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A subsistence economy, is an economy in which the people barely meet their everyday needs. It is often seen as a major factor for poverty in developing nations. This is because the people of the society do not trade with other groups, this may be for a vary of reasons but a major one being their isolation. If the people of the society do not produce enough food, or not a variety the people will become sick and contract disease. This type of living is poverty.
The people also do not have everyday items that we take for granted, such as ipods, TV's, computers, fashionable clothes and shopping malls. This is because the people do not produce enough surplus to trade with, sometimes not even producing a surplus at all.
What else can I help you with?
What is The opposite of a subsistence economy?
market economy
What is an example of a subsistence economy?
A subsistence economy is an economy which is based on gathering or amassment of valuable items; the increase in wealth; or the creation of wealth. So, basically, an example would be Canada, the United States, etc. Almost the whole world is a subsistence economy.
What is the difference between market economy and subsistence economy?
A commercial economy is an economy that has enough food and supplies left over when used, but a subsistence economy is an economy that has enough food. They don't have he extra left over like a commercial economy.
What are four different types of economic systems?
Market Economy, Peasant/Command Economy, Subsistence Economy, and Traditional Economy.
An economy that produces just enough goods for itself is called?
subsistence economy-novanet answer!
Is Nigerian economy subsistence before 1900?
yes i believed th economy was subsistence yes i believed th economy was subsistence
What is The opposite of a subsistence economy?
market economy
What is an example of a subsistence economy?
A subsistence economy is an economy which is based on gathering or amassment of valuable items; the increase in wealth; or the creation of wealth. So, basically, an example would be Canada, the United States, etc. Almost the whole world is a subsistence economy.
What is an example of subsistence economy?
A subsistence economy is an economy which is based on gathering or amassment of valuable items; the increase in wealth; or the creation of wealth. So, basically, an example would be Canada, the United States, etc. Almost the whole world is a subsistence economy.
What is the difference between a commercial and subsistence economy?
Market economy exists near urban areas of population whereas subsistence economy is an economy where rural areas are hub of economic activities
What is the difference between market economy and subsistence economy?
A commercial economy is an economy that has enough food and supplies left over when used, but a subsistence economy is an economy that has enough food. They don't have he extra left over like a commercial economy.
What is a example of a subsistence?
A subsistence economy is an economy which is based on gathering or amassment of valuable items; the increase in wealth; or the creation of wealth. So, basically, an example would be Canada, the United States, etc. Almost the whole world is a subsistence economy.
An economy that makes only enough goods for itself?
subsistence economy
When the eskimos did not trade with other people what kind of economy did they have?
subsistence economy
What type of economic systems is also referred to as a subsistence economy?
Traditional Economy
What is the main source of income in a subsistence economy?
agriculture.
Which of these is most associated with a subsistence economy?
hunting and gathering
