ELI5: Explain Like I'm 5

Subsistence economy

A subsistence economy is when people grow or gather their own food and other basic things they need to survive, instead of buying them from stores or trading for them with other people. It's like playing "house" or "survival" where you pretend to live off the land and make everything you need yourself. In a subsistence economy, people work hard to create everything they need from the resources around them, like planting and harvesting crops, hunting or fishing for meat, and gathering materials to make their own clothes and tools. They don't usually have much extra stuff to trade or sell, since they use everything they have to survive. It's a bit like being self-sufficient, where you take care of yourself and your basic needs without relying on others to do it for you.