Question

What is economy? .................
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Answer 1

Answer:

An economy is an area of the production, distribution and trade, as well as consumption of goods and services by different agents.

Answer 2

Explanation:

An economy is a system whereby goods are produced and exchanged. Without a viable economy, a state will collapse. There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two.