Signs of the traditional economic system.

Traditional economics dates back to the dawn of human history. It is characterized by a subsistence economy, backward technology, manual labor, and a very slow pace of economic development. The traditional economic system existed in the agrarian states. The main questions of the economy, what and how to produce, were solved with the help of traditions and customs. Ownership of land and the means of production belonged to the community; private ownership has just begun to form. The traditional economy is closed in nature.