Question

what do you mean by economy? how natural and level of economy is decided?​

Answer 1

Hey Guys

• An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. The production and consumption of goods and services are used to fulfill the needs of those living and operating within the economy, which is also referred to as an economic system.

Answer 2

Answer:

Economy is a large set of inter related production and consumption activities that aid in determining how scarce resources are allocated. the nature and level of the economics are related to the study of wealth or human behaviour or of scarce resources. the scope is very wide and includes the subject matter of economics, whether economics is a science or an art or whether ,it is positive or normative science.