Answer to Question #73229 in Economics of Enterprise for adrian

Question

what is the effect on society of the following traditional system

Answer 1

Traditional economy is an original economic system in which traditions, customs, and beliefs help shape the goods and the services the economy produces, as well as the rules and manner of their distribution. Countries that use this type of economic system are often rural and farm-based. Also traditional economy is defined by bartering.
Source:
https://en.m.wikipedia.org/wiki/Traditional_economy