Quiz on Advantages of Traditional Economy

What is an advantage of a traditional economy related to societal roles?

What is an advantage of a traditional economy regarding social structures?

What advantage do traditional economies have regarding societal roles?

What basic economic questions are addressed in traditional economies?

What is an advantage of life in a traditional economy?

What is a disadvantage of traditional economies regarding change?

What technological disadvantage do traditional economies face?

What is a disadvantage related to intellectual progress in traditional economies?

What is an efficiency-related disadvantage in traditional economies?

What is a disadvantage regarding skill usage in traditional economies?

What is a disadvantage related to labor movement in traditional economies?

Members have clear roles and responsibilities, ensuring efficiency and order.
Strong social networks foster community support and cooperation among individuals.
Established positions lead to a clear societal structure and stability in roles.
Traditions and customs effectively answer fundamental economic questions, reducing uncertainty.
Life in a traditional economy is characterized by stability, predictability, and continuity, contributing to social cohesion.

Societies are often resistant to change, hindering adaptation and growth.
Limited incorporation of technological advancements, which can restrict productivity.
Minimal emphasis on intellectual and scientific development, slowing innovation.
Goods and services may be less efficiently provided, potentially leading to shortages or surpluses.
Skills relating to production factors often remain underutilized, impacting economic potential.
Lack of social mobility prevents individuals from advancing in their careers or livelihoods.