Definition of Subsistence Economy
(noun) An economy that depends on non-market mechanisms such as reciprocity and redistribution instead of money as a means of production and exchange.
Subsistence Economy Pronunciation
Syllabification: sub·sis·tence e·con·o·my
- American English – /suhb-sIs-tuhns i-kAHn-uh-mee/
- British English – /suhb-sIs-tuhns i-kOn-uh-mee/
International Phonetic Alphabet
- American English – /səbˈsɪstəns ɪˈkɑnəmi/
- British English – /səbˈsɪstəns i(ː)ˈkɒnəmi/
- Plural: subsistence economies
- Subsistence economies typically meet the minimum needs of the population and but do not create a surplus for trade. Groups that have subsistence economies typically rely on simple technology such as digging sticks and have minimal specialization in their division of labor.
- Once called natural economy but now rarely used because of the problematic nature of the word “natural.”
- Economic Sociology Resources – Books, Journals, and Helpful Links
- Word origin of “subsistence” and “economy” – Online Etymology Dictionary: etymonline.com
- allocation of resources
- division of labor
- economic system
- market economy
- market exchange
- reciprocal exchange
Henslin, James M. 2012. Sociology: A Down-to-Earth Approach. 10th ed. Boston: Allyn & Bacon.
Oxford University Press. (N.d.) Oxford Dictionaries. (https://www.oxforddictionaries.com/).
Princeton University. 2010. WordNet. (https://wordnet.princeton.edu/)..
Taylor & Francis. (N.d.) Routledge Handbooks Online. (https://www.routledgehandbooks.com/).
Wikipedia contributors. (N.d.) Wiktionary, The Free Dictionary. Wikimedia Foundation. (http://en.wiktionary.org).
Wiley. (N.d.) Wiley Online Library. (http://onlinelibrary.wiley.com/).
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2014. “subsistence economy.” In Open Education Sociology Dictionary. Retrieved September 28, 2020 (https://sociologydictionary.org/subsistence-economy/).
APA – American Psychological Association (6th edition)
subsistence economy. (2014). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/subsistence-economy/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2014. “subsistence economy.” In Open Education Sociology Dictionary. Accessed September 28, 2020. https://sociologydictionary.org/subsistence-economy/.
MLA – Modern Language Association (7th edition)
“subsistence economy.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2014. Web. 28 Sep. 2020. <https://sociologydictionary.org/subsistence-economy/>.