Question

brought notes on What do you mean by self sufficient village economy ?

Answer 1

Answer:

A self-sufficient economy does not trade with other countries because it can produce its goods and services using its natural resources, sustainable agriculture, and renewable energy.

Explanation:

What Does Self-Sufficient Economy Mean?

What is the definition of self sufficient economy? Self-sufficiency enables a country to be economically independent and stands on its own feet. In the context of a self-sufficient economy, the factors of production utilize the country’s natural resources and labor to produce goods and services that can satisfy consumer needs, and improve the living standards of the people. Furthermore, a self-sufficient national economy guarantees equality in economic affairs, sovereignty, and stable international relations.

Answer 2

Self-sufficient village economy refers to such kind of situation in which the village is equipped with all sort of facilities required by the people within it. It doesn't depend upon neighboring villages or other places for its needs.