English / word
traditional economy
noun B2MEANING IN ENGLISH
An economic system reliant on customs, cultural traditions, history, and time-honored practices.
In context
01
A traditional economy typically depends on subsistence farming, fishing, and bartering.
02
Tribes still practice a traditional economy based on barter trade.
Synonyms
subsistence economy,customary economy,indigenous economy
Antonyms
market economy,industrial economy,command economy
Collocations
features of a traditional economy,rural traditional economy,traditional economy model