subsistence economy

Definition

An economic system wholly reliant on the self provisioning of the community. Wealth in a subsistence economy is measured in terms of natural resources. A subsistence economy relies on hunting and cultivation for food and surrounding trees for building shelter depending on the natural environment's renewal and reproduction for survival.

Use subsistence economy in a sentence

  • When you are dealing with a subsistence economy you must know how to adapt to it to get bigger profits.

    Was this Helpful?   (25)   (0)
  • The subsistence economy would last because it was placed in the hands of the people and the people could always be trusted.

    Was this Helpful?   (25)   (0)
  • You should know how to quickly react to a subsistence economy and take advantage of any opportunities that come your way.

    Was this Helpful?   (25)   (0)
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/subsistence-economy.html

Have a question about subsistence economy? Ask for help in the
Community
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z