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Class 10 > Learn Class IX-X Tuition > What is Economy?
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What is Economy?

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An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location. Understood in its broadest sense, 'The economic is defined as a social domain that emphasizes the practices, discourses, and material expressions...
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An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location. Understood in its broadest sense, 'The economic is defined as a social domain that emphasizes the practices, discourses, and material expressions associated with the production, use and management of resources'.[1] Economic agents can be individuals, businesses, organizations, or governments. read less
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Economy is define as the state of a country or region in terms of the production and consumption of goods and services and the supply of money.
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It is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location.
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Economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. This is also known as an economic system.
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: the process or system by which goods and services are produced, sold, and bought in a country or region : careful use of money, resources, etc. : something that makes it possible for you to spend less money
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