Definition of Subsistence economy:
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 environments renewal and reproduction for survival.
How to use Subsistence economy in a sentence?
- You should know how to quickly react to a subsistence economy and take advantage of any opportunities that come your way.
- The subsistence economy would last because it was placed in the hands of the people and the people could always be trusted.
- When you are dealing with a subsistence economy you must know how to adapt to it to get bigger profits.
Meaning of Subsistence economy & Subsistence economy Definition