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

Question

Quizplus · Accepted Answer

A subsistence economy is characterized by producing goods only for personal consumption or for barter with neighboring communities for basic necessities such as food or clothing. It does not involve much money economy and therefore does not have much excess output to trade for other goods and services.

Which of the Following Types of Economies Consumes Most of Its