What is a Traditional Economy?

This video looks at a traditional economy. It analyzes the different advantages and disadvantages of the economy and explains how life is in this economy.

[jagcrossover]

Thank you for explaining this! I'm a student and I was assigned to teach this in class as an additional grade! You made it easy for me! I appreciate your video! <3 :D

[jeanettehulett]

I'm interested in the guided notes that you mention in your videos. I cannot find them as mentioned in the video.

[mwenvlay]

i'm having my son do advance studying for the history regents exam and even though he's going into the 9th grade, he knows zero about european and us history. in an effort to help him gain the knowledge he needs, i'm making him do research on every answer he gets wrong. your videos are helping him greatly. thank you.

[walnut]

btw, your videos are being used by our classmates from lsm (very helpful)

[SandraB]

Thank you so much for the very entertaining discussion sir. Can I ask for the guided notes sir? I can't see it in the description.

[lancehitchcock]

Well done sir. It covers the main focus of the topic clearly. I would add to the opportunity costs of a tradition system that a traditional economy is often overspecialization to environments. When combined with the noted lack of adaptability to substantial short term change, this can result in societies disintegrating, when confronted with changing situations that renders the traditional way of doing things no longer viable. I remember studying examples of this in a cultural anthropology class.

In addition. that this lack of willingness to change is less evident if it is phased in over long periods of time. An excellent example is Middle Ages Europe. After the fall of the Roman Empire, Europe adopted Feudalism, which is a highly structured economic, political, and social structure, to survive the resulting chaos. Then when the Crusades resulted in increased contact with the east; that contact slowly generated the Commercial Revolution, Renaissance, Industrial Revolution, and Scientific Revolution. Over centuries; these changes slowly shifted Europe away from a traditional system and toward a market system.

[jofitaaaa]

You explain things so well not like my teacher sixth is wierd

[youmnahamail]

I'm studying economics and political science from Egypt, I enjoy your videos, but can u talk more slowly plss

[thepotatoofheaven]

Thanks for showing this my teacher didnt go over this with us

[bkq]

Thank you for explaining what is Traditional Economy. I'm going to watch the other 3. Just so, I happen to be absent in my class. And my groupmates wanted me to write our group activity. It's a spoken poetry about Allocation. Which is pretty basic but for someone who's not even in the class, it's hard.


P. S it's a group activity and they already depended me on this. I really hate people depending on someone who's not even, in the first place, know about the topics they already discussed.

Just saying.

[youmnahamail]

Thx for explaining this, can I talk more slowly

[Alalaala]

thanks a alot now i have to watch this video for homework :/

[TheRealArtics]

that was ok
i will not buy the notes ok