Explain giving examples, the concept of dualism in an economy

Economic dualism, most broadly defined, refers to the coexistence of two or more economic systems.  Examples are

• Sectoral dualism this refers to the existence of a traditional peasant sector that produce products for house consumption such as production on small plots of land and modern capitalistic sector that produces products for sale such as o large scale production.
• Technological dualism: the co-existence of traditional peasant sector which uses simple tools like hoe and modern commercialized sector which uses modern tools like tractors
• Exchange dualism: coexistence of modern methods of exchange like using cheques, money, and wireless transfer in transactions with traditional systems of exchange like barter trade.
• Social dualism: coexistence of contradicting social economic groups in a given society i.e. the rich and the poor.
• Financial dualism: coexistence of two financial systems one desirable and organised e.g. organized exchange system like banks and unorganized exchange system like home, bar, market etc.
• Labour dualism: coexistence of different labour markets e.g. skilled and unskilled
• Regional dualism: coexistence of regions at different levels of development e.g. city and rural areas
• International dualism: coexistence of countries at different levels of development e.g. first world and third world countries.