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.
Consumer economy refers to an economic system that is controlled by consumer spending. Credit card spending is one facet of a consumer economy. A consumer economy focuses on which items and products consumers focus their spending power on. Consumer spending tends to increase in good economies.