Amadeo   1  Definition of Characteristics

• It is based on agriculture, fishing, hunting, gathering or some combination.
• It is also guided by traditions.

  Amadeo   1     Chaaracteristics  of Traditional Economy

• Most traditional economies operate in emerging markets.
• The next level, hunter,gathers finnd a fertile area they can cultivate, and become farmers.
• They also can support more people using  less sources.

Amadeo  2     Traditonal Economy

• Traditional economies in the modern world interact with market or command economies, cash takes on a more important role.
• Cash enables those in the traditional economy to purchase alot more aadvanced tools to make their farming.

Amadeo 2  Traditonal Economy advantgaes

•  In some economies rely on custom,and tradition, the distribution of resources is usually popular in their area.
• Everyone knows how popular they are with their production, and what they are likely to get.
• In most cases traditoinal economies are usuially less destructive to the enviroment,and therefore sustainable.

Amadeo    2 Traditional Economy Disadvantages

• They can be very harmful with the change in nature, mostly with the weather.
• So they have to limit their population growth.
• When the harvest or hunting is poor, people are left starving.
• Some traditonal economies that have superior resources to wage war or take away needed natural resources.

Amadeo  2     Traditional Economy Examples

• They are poweful in the U.S. before the imigration of Europeans beginning in 1492.
• The Native Americans that relied on hunting and fishing were more healthy than the people that was relied on farming so there massed in large, disease communities.
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Amadeo    3

• Before the civil war, the American South had somewhat of a traditioinal Economy.
• It was mostly devoloped by largely farming, and was guided by a strong network of traditions and culture that were highly devastated by the war.
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Amadeo 3

• It may use barter instead of money.
• It is based on agriculture, fishing, hunting, gathering or some combination.
• It is guided by traditions.

  Amadeo  3

• They follow the herds of animals that sustain them. 
• They may also move to follow the seasons, whether it's winter/summer or wet/dry season.
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Amadeo 3

• Many people progress from hunters to farmers where they can place permanent structures and start a society.
• Often, people in a traditional economy live in families or tribes.
• Barter and trade is often used in place of money.