short note on village economy
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The economy of a village is a simple economy. Goods and services are produced for self consumption and not for market. The basic objective of the people living in a village is to satisfy the current needs. ... Each individual uses his own resources to fulfill his needs.
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Definition of village economy:
a stage in economic history following that in which agriculture is the principal pursuit and having for its characteristic features the village, barter trading, and little division of labor
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