key term - Self-Sufficiency

Definition

Self-sufficiency refers to the ability of an individual, household, or community to meet their own needs without reliance on external resources or support. It encompasses the capacity to produce, procure, or acquire the necessary goods and services required for sustenance and well-being.

5 Must Know Facts For Your Next Test

1. Self-sufficiency is often seen as a way to reduce vulnerability to external shocks, such as market fluctuations or supply chain disruptions.
2. Achieving self-sufficiency can involve diversifying income sources, producing one's own food, and minimizing reliance on purchased goods and services.
3. In the context of the poverty trap, self-sufficiency can be a strategy for breaking the cycle of poverty by reducing dependence on external aid or support.
4. Promoting self-sufficiency at the community level can foster resilience and empower individuals to take control of their own development.
5. Barriers to self-sufficiency can include lack of access to resources, education, or opportunities, as well as institutional or structural factors that limit individual agency.

Review Questions

• Explain how the concept of self-sufficiency relates to the poverty trap.
  • In the context of the poverty trap, self-sufficiency can be a strategy for breaking the cycle of poverty. By reducing dependence on external aid or support and increasing the ability to meet one's own needs, individuals and communities can become less vulnerable to external shocks and more resilient in the face of economic challenges. Self-sufficiency can empower people to take control of their own development and make decisions that align with their long-term well-being, rather than relying on temporary or unsustainable solutions.
• Describe the role of diversification in achieving self-sufficiency.
  • Diversifying income sources and production activities is a key aspect of self-sufficiency. By not relying on a single source of income or a limited set of goods and services, individuals and communities can reduce their vulnerability to external shocks and fluctuations. Diversification can involve engaging in a range of economic activities, such as subsistence farming, small-scale entrepreneurship, and skill-based work, to ensure a more stable and reliable flow of resources. This approach can help build resilience and provide a safety net in times of crisis or uncertainty.
• Analyze the potential barriers to achieving self-sufficiency and discuss strategies for overcoming them.
  • Barriers to self-sufficiency can include lack of access to resources, education, or opportunities, as well as institutional or structural factors that limit individual agency. Strategies for overcoming these barriers may involve improving access to land, capital, and training; investing in community-based infrastructure and services; and advocating for policy changes that empower individuals and communities to take control of their own development. Additionally, fostering collaboration and knowledge-sharing within and across communities can help overcome resource constraints and build collective capacity for self-sufficiency. By addressing the multifaceted challenges that hinder self-sufficiency, individuals and communities can work towards greater autonomy, resilience, and long-term well-being.

Related terms

Subsistence: The state of having or producing only enough to maintain life; a minimal level of existence.

Autonomy: The ability to make decisions and take actions independently, without external control or influence.

Sustainability:

The capacity to maintain a certain level of economic, social, or environmental well-being over an extended period of time.