In a(n) ________, the vast majority of people engages in simple agriculture and consumes most of their output.
A) raw material economy
B) subsistence economy
C) industrializing economy
D) emerging economy
E) industrial economy

Question

Quizplus · Accepted Answer

A subsistence economy is characterized by simple agriculture and self-sufficient communities. In this type of economy, people typically produce only enough food and goods to meet their own basic needs, with little surplus for trade or exchange. This type of economy is often found in rural or undeveloped areas, particularly in developing countries where access to resources and infrastructure is limited.

In A(n) ________, the Vast Majority of People Engages in Simple