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Conventional or patriarchal economy - such an economic system in which the customs and traditions define the practice of using limited resources. It is the most ancient. In the traditional economy, land and capital are in common ownership, and the main economic problems of society - what, how and for whom to produce - are solved, mainly based on traditional tribal or semi-feudal hierarchical relationships between people [1].
For the traditional economy characterized by subsistence farming .
The characteristics of the traditional economy:
primitive technology,
the prevalence of manual labor,
members of economic relations united in a strong social network,
the key economic problems are solved in accordance with the customs.
For a traditional economy characterized by low productivity farming, hunting and gathering - no regular surplus food, and therefore trade It is not of a permanent nature.
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