Which of the following defines a nation with a subsistence economy?
A)The agricultural products are imported, while the industrial outputs are produced within the nation.
B)The agricultural and industrial outputs are just enough for the nation to survive.
C)The economical outputs of the nation are in abundance and are mostly exported.
D)The economy offers outstanding marketing opportunities only for industrial products.
E)Both agriculture and industrial components are produced indigenously by the country and exported in large quantities.

Question

Quizplus · Accepted Answer

A subsistence economy is one where the agricultural and industrial outputs are produced only to meet the basic needs of the population, without any surplus to trade or export. Therefore, the best choice is B, where the outputs are just enough for the nation to survive. The other choices describe economies with either imported agricultural products and domestic industrial outputs (A), surplus outputs for export (C, E), or outstanding marketing opportunities only for industrial products (D), which are not characteristics of a subsistence economy.

Which of the Following Defines a Nation with a Subsistence