Economists call an economy in which each person produces all of the goods that he or she consumes a(n) ________ economy.

Question

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A Robinson Crusoe economy refers to an economy in which each person produces all of the goods that he or she consumes, just like how Robinson Crusoe did on his deserted island. This type of economy is unrealistic in modern times but is often used as a theoretical concept in economics.

Economists Call an Economy in Which Each Person Produces All