Pre-industrial Economy

A pre-industrial economy refers to a period before the onset of industrialization, typically characterized by agrarian practices, bartering, and small-scale production. Most communities relied on farming, fishing, or crafts for their livelihoods, with families often producing what they needed. Trade was local, and goods exchanged were limited to essential items. Techniques were mostly traditional, with little reliance on machinery. Social structures were often close-knit, and labor was divided mainly by gender and age. This economy focused on subsistence, meaning communities aimed to meet their basic needs rather than producing surplus for profit.