Question

define economy
what is economy?


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Answer 1

Answer:

An economy is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. In general, it is defined 'as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources

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Answer 2

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An economy is a system which tries to balance the available resources of a country (land, labour, capital and enterprise) against the wants and needs of consumers.

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