Question

Explain in 50 words Economy.

Answer 1

Economics is concerned with the optimal distribution of resources in society. ... Economics is the important you get to know how societies, governments, businesses, households, and individuals allocate their scarce resources. The economics can also provide valuable knowledge for making decisions in everyday life.

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Answer 2

Heyaaa !!!

The economy is the production and consumption activities that determine how scarce resources are allocated in an area.

The GDP represents the total dollar value of everything an economy produces.

An economy is the system according to which the money, industry, and trade of a country or region are organized.

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