Individual Economy of Peasants and Handicraftsmen

The individual economy of peasants and handicraftsmen was based on the individual ownership of means of production and individual labor. Its scale was narrow, management was dispersive, and technology used was backward.

The individual economy of peasants mainly referred to the individual economy operated by middle and poor peasants.

The individual economy of handicraftsmen referred to the individual economy in which the handicraftsmen who owned small workshops, a small amount of hand tools, raw materials and other means of production, this sector relied on manual labor and used simple tools and made a small-scale production. The individual economy of farmers and handicraftsmen was an economy at crossroads, which was prone to polarization between the rich and the poor.