Traditional+Economy

= TRADITIONAL ECONOMY = = = =How does a market economy answer the 3 economic questions?= =Characteristics: Generational workers= =Pros/Cons:= Pro: You dont have to worry about a trade deficit, it is very simple, They don't over use natural resources Con: There is no real economic growth, Women and men have different tasks and jobs, they consume what they produce = = =Examples:=
 * Use natural resources available to them
 * Homemade tools
 * Satisfy everyday needs
 * Food, shelter, clothing
 * Technology is not used
 * They use old methods as generations before them so hunting farming and gathering would be done the same as generations before them
 * Cottage industry
 * Note there is no purely traditonal economy in the world today but there are some regions in the world that use the thought of traditional economy