Traditional economic systems are economies based on dissemination of resources, products and goods based on rituals, routines and customs. Some nations have traditional economies, while traditional economies exist region... More »

Economies worldwide fall into one of four categories: traditional, market, command and mixed. Within these categories, however, there is a considerable amount of variation. The type of economy that a market falls into de... More »

Basic functions of an economic system are to produce and consume goods and services. The way in which people within the economy do this varies based on the type of economic system. More »

Global economic meltdown is a state of economic crisis that simultaneously impacts the economies of multiple global powers. As of 2015, a number of commentators are questioning whether the world might be on the brink of ... More »

According to Econedlink.org, traditional economies are found in parts of the Middle East, Asia, Africa and South America. Traditional economies are found in developing countries; many of these countries rely on gathering... More »

Traditional economies mainly revolve around the customs, beliefs and traditions of the community. Such economies shape their goods and services to suit cultural practices, religious beliefs and family customs. More »

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A traditional economy is an economic system where customs, traditions and beliefs determine the goods and services created by the society. It is dependent on agriculture, hunting and gathering, fishing or any combination... More »