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What are subsistence marketplaces?
What do you consider as subsistence marketplaces? Are these those engaged in doing business illegally or the so-called underground economy?
1 Answer
- GriffinLv 41 decade agoFavorite Answer
The reference of subsistence marketplace has nothing to do with illegal or underground activity. It is a marketplace where both the sellers and buyers are living in a subsistence environment. In other words, the buyers and sellers in this marketplace are producing and buying little more than what is necessary to survive. Subsistence was generally applied to agriculture, where farmers who produced enough for their family but not necessarily for retail are considered subsistence farmers. The subsistence marketplace covers a much broader environment.
Incidentally, it is the topic of a course offered at the University of Illinois (Urbana)
