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Traditional Economy: Bangladesh
Transcript of Traditional Economy: Bangladesh
A traditional Economy doesn't use electricity, they grow their own crops depending on their living environment, they have to support their own families individually and the government makes some of the economic decisions and doesn't really interfer with the people. The difference about this economy would be that others have the government or state planners to make decisions and have more variaties of products which would cause competition in markets and have products made for them and don't really depend on their living enviornment.
How Roles Are Defined In The Traditional Economy You Chose?
How Are Roles Define In A Traditional Economy?
A country that exist today with this economy is, Bangladesh. They suffer an extreme Traditional Economy.
Which Country Has This Form Of Ecomony?
Bangladesh's economy is based on agriculture. Determined by their environment, they produce: rice, tea, sugarcane, tobacco, wheat, beef, poultry, dairy products and other chief crops, except for natural gas. This country is the world's largest producer of jute. Fishing is also an important economy activity in Bangladesh. They have limited quantities of oil, some uranium and coal. Bangladesh possesses few minerals.
several million Bangladeshis working abroad are the second largest source of foreign income .Capital goods, chemicals, iron and steel, textiles, food, and petroleum products are the major imports. Western Europe, the United States, India, and China are the main trading partners. Bangladesh is laced with numerous streams, distributaries, and tidal creeks, forming an intricate network of waterways that constitutes the country's chief transportation system.
The Strengths Of A Traditional Economy
There is little friction among members because of little competition.
With their main products that are produced based on their environment, they can trade with other countires to get other products.
The Weaknesses Of A Traditional Economy
There is limited to products that you may have. There is also no use in technology, no mass production and does not allow for growth and development. Individual in this economy have little control over environmental factors.
How Your Life Would Be Different If You Lived In A Traditional Economy
My life would be beyond different. I wouldn't have no knowledge of technology, I wouldn't have my cellphone, my computer or tv. I would have to work twice as hard and would have less education time than what I have now. I wouldn't have varieties in food like I do now, or options in my lifestyle. My life would be focused on work and education and not being able to go to places to have fun and be with my friends,