The standard of living is low in traditional economies. true or false?
i think it is TRUE

Question

The standard of living is low in traditional economies. true or false?
i think it is TRUE

lovefaith18 · Answer

@study.geek.123

lovefaith18 · Answer

@AngelaB97

study.geek.123 · Answer

define 'traditional economies"

study.geek.123 · Answer

because it depends on your definition of a traditional economy

lovefaith18 · Answer

meaning?

study.geek.123 · Answer

what do you think a traditional economy is?

lovefaith18 · Answer

a system that customs and beliefs produce

study.geek.123 · Answer

https://gcps.desire2learn.com/d2l/lor/viewer/viewFile.d2lfile/6605/4773/15TraditionalEconomy_print.html I think I would agree with the answer true

study.geek.123 · Answer

Traditional economies are often found in areas like Africa, Asia, and parts of South America. The Inuit in Canada are also a group that use this system. The standard of living, or quality of life, is often lower than in countries like the United States. People in traditional economies do not find much value in material possessions, as long as they have what they need, they are content. New ideas are not easily accepted, for fear they could mess up the system, so entrepreneurs are rare.

study.geek.123 · Answer

the standard of life can be considered low compared to the US
but then again the US has a pretty good standard of living, at least where i live