What is traditional economic system?

The traditional economy is an economic system in which traditions, customs, and beliefs help shape the goods and services produced by the economy, as well as their distribution rules and methods.

Countries using this kind of economic system are often rural and farmer - based.

Traditional economies depend on farming, fishing, hunting, gathering, or some of the above combinations.

Countries use traditional economy:

They are often in Africa, Asia, Latin America, and the Middle East.

Related:

What is a mixed economic system?

What is Command economic system?

What is Market economic system?