Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of customaria, a nation with a pure traditional economy (an economy molded largely by custom or religion).

To summarize the weakness and strength of a traditional economy is to the advantages and its advantages into consideration.

The customs, beliefs, and societies traditions formed the goods and services that are produced in a traditional economy. They determine the rules and regulation guiding the distribution of goods and services and how they are supplied. Traditional economy is an economy that is common among agricultural or rural societies.  In a traditional economy, the method use for production or conducting economic activities is primitive. Tradition and convention form the integral part of decision making in a traditional economy.  

Simply put, we can say traditional economy is one that is designed in line with the way the society lives. The goods and services produced are based on the people’s living conditions.  

However, there are certain characteristics of a traditional economy and this include

Advantages of traditional economy

Disadvantages of Traditional economy

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