what is an economy ?
Answers
Answer:
The state of a country or region in terms of production and consumption of goods and services and supply of money
ANSWER
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The word "Economy" refers to economic activities of well defined area of a region. It may be a village, a district, a city, a country or the whole world. For example, when we refer to the Indian Economy, we refer to all those institutions and organisation ( eg. Factories, farms, shops, banks, schools, hospitals, roads, railways and other. which enable people to earn their livellihood and at the same time help to produce goods and services which people require for use.
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Functions of Economy :-
• It produces goods and services to satisfy human wants.
•It provide employement or income earning opportunities to people.
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