Question

I early America, a traditional market structure existed when

Answer 1

A traditional market economy existed in America before the industrial revolution. In such system, the majority of the population worked in agricultural and livestock activities for subsistence.

There was a certain degree of specialization and labor division, and the very limited surpluses were traded for craftmanship products. There were timid technical improvements and therefore they did not enable to achieve large productivity gains.

This is why the emergence of industrial and manufacturing techniques were considered a revolution.

Answer 2

Africa, Asia, Latin America, and the Middle East

the people wher trading a lot

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