Which type of economy consumes most of its output and barters the rest for simple goods and services?
A) industrial economy
B) developed economy
C) subsistence economy
D) emerging economy
E) raw material exporting economy

Question

Quizplus · Accepted Answer

A subsistence economy is one in which most, if not all, of the output is consumed by the households that produce it. Any surplus may be bartered for simple goods and services, but there is little, if any, exchange with a larger market or monetary economy. This type of economy is often found in rural or remote areas where there is limited access to modern infrastructure and technology.

Which Type of Economy Consumes Most of Its Output and Barters