Economics · Types of Economies
Which of the following features best defines a subsistence economy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An urban-centric economy operating primarily on capital-intensive technology investments
- 2A market-driven economy focused on financial services and digital trade networks
- 3A self-reliant system where production is aimed chiefly at meeting local consumption and family needs✓
- 4An economic system heavily reliant on heavy industrial manufacturing and high export volume
Correct answer
A self-reliant system where production is aimed chiefly at meeting local consumption and family needs
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