Terrence and his family own a farm in a remote region of chile. they farm only enough to produce enough food to feed the family, and pay their taxes. what are terrence and his family engaging in?
a. capitalism
b. mercantilism
c. capitalistic farming
d. subsistence farming

D) Subsistence farming

Explanation:

Subsistence farming is the agriculture in which a farmer tends to grow crops for survival of their family and own-self or local needs. This helps the farmers to feed their own family with almost no surplus.

According to the question, Terrance and his family are pursuing the subsistence farming in which they tend to grow the crops for satisfactory feeding of their family members and tax payment.

Other option are incorrect because capitalism deals with the capital amount. Mercantilism is profitable trading advantages and capitalistic farming that is done for the market.Thus, the correct option is option(D).

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