Difference between traditional and modern economy

Differences in market size, differences in social distribution, etc.

Difference in market size: traditional economy tends to confine itself to small-scale production and sales, much of which is localized, and supply and demand are limited. The modern economy, on the other hand, is based on the global market, forming a globalized economy, dominated by multinational corporations and large enterprises, with production and sales involving market demand from all corners.

Social distribution is different: the traditional economic society is distributed in a simpler way, usually without a social welfare system, with lower incomes and a more backward standard of living. Modern economic and social distribution is more complex, usually take a variety of distribution methods, with the social security system integrated management, so as to ensure that people's living standards.