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JAMB Economics 1980 Question 20

Question 20

Agriculture

By subsistence production we mean

  1. A.goods and services are produced for consumption only
  2. B.goods and services are sold to others
  3. C.raw materials are produced in the country
  4. D.goods and services are produced for the market
  5. E.none of these.
Show the answer and explanation

Answer: A (goods and services are produced for consumption only)

Explanation

Subsistence producers make goods mainly for their own and their family's use, not for sale.