Identification

• The Economy Watch website defines traditional economics as a system in which the allocation of resources is based on inheritance and in which the society relies on prehistoric methods of production rather than on technology.
  
  

Geography

• Traditional economic systems exist mainly in rural, underdeveloped areas of South America, Africa and Asia, according to Economy Watch. The website cited Papua New Guinea and the Pygmy tribe in the Congo as examples of civilizations with traditional economies.
  
  

Features

• The main activities in traditional economics consist of farming, hunting and gathering, using methods practiced by the society or tribe for generations. In addition, men and women have fixed roles, and all activities center on the family or tribe.
  
  

Benefits

• Economy Watch reports that traditional economies foster unity among members of the society and help develop social bonds. In addition, because everyone in the society is engaged in some activity for the good of the society, unemployment is not an issue. Finally, the self-sufficiency of traditional economies allows independence from financial expenses.