subsistence economy

noun

Definition of subsistence economy

: an economy which is not based on money, in which buying and selling are absent or rudimentary though barter may occur, and which commonly provides a minimal standard of living — compare subsistence farming

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“Subsistence economy.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/subsistence%20economy. Accessed 11 Apr. 2021.

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