Economics Traditional Economy Questions
A traditional economy typically has a minimal impact on environmental sustainability. This is because traditional economies rely on subsistence farming, fishing, and hunting, which are often carried out in a sustainable manner. These economies prioritize the use of natural resources in a way that ensures their long-term availability and do not engage in excessive exploitation or pollution. Additionally, traditional economies tend to have a strong connection to the local environment and a deep understanding of its ecological balance, leading to practices that promote sustainability. However, as traditional economies transition to more modern forms, there is a risk of increased environmental degradation due to industrialization and the adoption of unsustainable practices.