Subsistence Economics

Subsistence economics refers to a system where people produce just enough resources—such as food, clothing, and shelter—to meet their own needs, rather than for sale in a market. This approach is typical in small, traditional communities where families rely on farming, hunting, or gathering. The focus is on survival and self-sufficiency rather than profit or wealth accumulation. Subsistence economies often prioritize community well-being and local practices over external trade and economic growth, preserving cultural traditions and environmental sustainability in the process.