Question

There still are many traditional economies in the world even today.

• A. True
• B. False

Answer 1

The correct option is B False

No, there are no traditional economies in the world today. Traditional economies are the ones which are based on one of the few traditional activities like agriculture, hunting, fishing, etc. These economies do not have a monetary system and are largely based on barter trade. Today there is no country which operates as a traditional economy.