What are some advantages and disadvantages of a traditional economy?

ADVANTEGES

While there are several advantages to a traditional economy, these economies are not without their disadvantages. Because these economies rely on hunting, fishing, gathering, and the land in the form of farming, when the weather changes, the economy becomes jeopardized The advantages and disadvantages of the traditional economy are quite unique. There is little waste produced within this economy type because people work to produce what they need. That is also a disadvantage, because if there is no way to fulfill production needs, the population group may starve.

disadvantages

Traditional economies produce no industrial pollution, and keep their living environment clean. Traditional economies only produce and take what they need, so there is no waste or inefficiencies involved in producing the goods required to survive as a community It isolates the people within that economy Large outside economies can overwhelm a traditional economy It offers few choices There may be a lower overall quality of life It creates specific health risks Unpredictability creates survival uncertainties absence or deprivation of advantage or equality. the state or an instance of being in an unfavorable circumstance or condition: to be at a disadvantage. something that puts one in an unfavorable position or condition: His bad temper is a disadvantage.

answer; strategic planning;