example of economics and economy
Answers
Answer:
Basically, economics is the study of an economy, i.e. its structure, condition, working, performance, issues, remedies, etc. It includes the analysis of the different types of the economic system, economic decisions and its implementation by various economic units, such as individual, family, institutions, government, etc.
"An economy indicates a region, a particular area or country, concerning production, distribution, consumption, and exchange of goods and services, and supply of money. Let’s take a look at the article given below to understand the difference between economics and the economy."
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Answer:
When Corn crop production increases the farmers decrease the price of the crop so that they can sell off their produce. If the supply is too high then the demand i.e. the amount of corn needed to feed the people of the Country, the produce had to be wasted and farmers lose their cost of production.
Economy is defined as the management of financial matters for a community, business or family. An example of economy is the stock market system in the United States. ... An orderly management or arrangement of parts; organization or system.
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