10 Questions
What is a subsistence economy?
A subsistence economy is an economy focused on meeting basic needs rather than participating in the market.
What is one advantage of a traditional economy?
One advantage of a traditional economy is that it does not have a negative impact on the environment.
What is subsistence farming?
Subsistence farming is a type of agriculture where the majority of the produce is used to support the household's needs.
What factors do primitive economies rely on?
Primitive economies rely on factors such as rain, sun, and flood for their economic order.
What is the purpose of a subsistence economy?
The purpose of a subsistence economy is to provide basic necessities like food, clothing, and shelter for the community.
What areas in the Philippines did Antonio de Morga mention in his description of early Filipinos?
Cagayan, Leite (Leyte), Camar (Samar), Bohol, Islands of Negros, Sebu, Panay, Cuyo, Calamianes
What was the medium of exchange used by the early Filipinos?
Cowry shells
How did Antonio de Morga describe the early Filipinos?
By clothing types, stature, style, ornaments, and tattoos
What was the barangay in the early Filipino society?
The Filipino's earliest form of government, an independent settlement consisting of 30-100 families
What is the origin of the word 'barangay'?
It comes from the word and concept of balangay, a long-distance watercraft
Test your knowledge on subsistence economies! Learn about underdeveloped economies that rely on primitive tools and methods for food production. Explore the concept of subsistence and how it differs from market-based economies. Discover the absence or rudimentary nature of buying and selling, and the possibility of barter.
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