traditional market economy
Storyboard Text
- Traditional Market EconomySkylar Moreash
- hi! i have to interview citizens for my economy class. Do you know what a traditional market economy is?
- traditonal market economies produce things for the purpose of trade and barter. they usually produce items manually, and produce certain products based off of the needs of the public.
- one great thing about this type of economy is that it doesnt include currency.
- instead of currency, citizens use their goods to trade with someone else for their goods, based off of what they need.
- however, these systems tend to discourage new ideas and individuality.
- so usually, ways of life dont change in traditional market ecconomies; therefore nothing evolves.
- thank you so much! i think i understand alot better!
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