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Transcript
Activating Strategy
TRADITIONAL ECONOMY
The oldest economic system is the traditional economic system. Most of the economic
decisions that are made are based on customs and habits from the past. Many
traditional economies are found in rural areas where there are extended families and
the work is often subsistence farming, herding animals, or working is simple trades. In
this system there is no money. Goods and services are bartered, or traded. Today,
there is no country that has a primarily traditional economy.