What characterizes the traditional economic system?

The traditional economic system existed in the primitive, undeveloped societies of the Ancient World. Land and tools of production were in public ownership. People worked on an equal footing, and the products of labor were distributed in accordance with the orders and traditions of the tribes.

Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.