A subsistence economy is one in which ________.
A) much of the revenue comes from exporting one or more natural resources
B) fast growth in manufacturing results in overall economic growth
C) a majority of the produced outputs is exported
D) manufactured goods form a majority of the exports
E) a vast majority of people engage in simple agriculture

Question

Quizplus · Accepted Answer

A subsistence economy is one in which the focus is on producing enough food, shelter and clothing for the local population to survive, rather than producing goods for trade or export. Therefore, a vast majority of people engage in simple agriculture to meet their daily needs. Option E is the only choice that accurately reflects this definition.

A Subsistence Economy Is One in Which ________