Question

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Definition of economy​

Answer 1

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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 resources'.

Answer 2

ᴇᴄᴏɴᴏᴍʏ ɪs ᴅᴇғɪɴᴇᴅ ᴀs ᴛʜᴇ ᴍᴀɴᴀɢᴇᴍᴇɴᴛ ᴏғ ғɪɴᴀɴᴄɪᴀʟ ᴍᴀᴛᴛᴇʀs ғᴏʀ ᴀ ᴄᴏᴍᴍᴜɴɪᴛʏ, ʙᴜsɪɴᴇss ᴏʀ ғᴀᴍɪʟʏ. ᴀɴ ᴇxᴀᴍᴘʟᴇ ᴏғ ᴇᴄᴏɴᴏᴍʏ ɪs ᴛʜᴇ sᴛᴏᴄᴋ ᴍᴀʀᴋᴇᴛ sʏsᴛᴇᴍ ɪɴ ᴛʜᴇ ᴜɴɪᴛᴇᴅ sᴛᴀᴛᴇs. ᴇғғᴇᴄᴛɪᴠᴇ ᴍᴀɴᴀɢᴇᴍᴇɴᴛ ᴏғ ᴛʜᴇ ʀᴇsᴏᴜʀᴄᴇs ᴏғ ᴀ ᴄᴏᴍᴍᴜɴɪᴛʏ ᴏʀ sʏsᴛᴇᴍ.

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