Answer:-
A traditional economy is an economic system where customs, traditions, and beliefs shape how people produce and distribute goods. It usually relies on farming, fishing, hunting, or bartering rather than money. People often follow the same roles as their ancestors, passing down skills and jobs through generations. This system is common in rural or indigenous communities where modern technology is limited. While it provides stability and preserves cultural heritage, it can struggle to grow or adapt to new challenges. Overall, traditional economies focus on meeting basic needs through time-tested methods rather than on profit or innovation.
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