ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Agroforestry, intercropping, crop rotation, cover cropping, traditional organic composting and integrated crop-animal farming are prominent traditional agricultural practices.

Detailed explanation-2: -A traditional economy is a system that relies on customs, history, and time-honored believes. Tradition guides economic decisions such as production and distribution. Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them.

Detailed explanation-3: -Countries that use this type of economic system are often rural and farm-based. Also known as a subsistence economy, a traditional economy is defined by bartering and trading. A little surplus is produced and if any excess goods are made, they are typically given to a ruling authority or landowner.

Detailed explanation-4: -“ Farming System is defined as a complex inter related matrix of soil, plants, animals, implements, power, labour capital and other inputs controlled in part by farming families and influenced to varying degrees by political, economic, institutional and social forces that operate at many levels.

Detailed explanation-5: -Examples of traditional economies include the central African Mbuti, the Australian Aborigines, and the Inuit of Northern Canada. The main advantage of a traditional economy is that the answers to WHAT, HOW, and FOR WHOM to produce are determined by customs and tradition.