Prepayment definition: A prepayment is a payment that you make before you receive goods or services, or before a... | Meaning, pronunciation, translations and examples
A traditional economy is an economic system where decisions are  based on customs, beliefs, or religion within a social community.  People work together to produce goods to â¦ meet their needs, and  share with family. They trade with their community/family with  their excess.
A steady state economy is an economy with stable or mildly fluctuating size. The term typically refers to a national economy, but it can also be applied to a local, regional, or global economy. An economy can reach a steady state after a period of growth or after a period of downsizing or degrowth. To be sustainable, a steady state economy may not exceed ecological limits.