what is economy???????????
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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'.
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ᴀɴ ᴇᴄᴏɴᴏᴍʏ ɪs ᴀ sʏsᴛᴇᴍ ᴏғ ᴍᴀᴋɪɴɢ ᴀɴᴅ ᴛʀᴀᴅɪɴɢ ᴛʜɪɴɢs ᴏғ ᴠᴀʟᴜᴇ. ɪᴛ ɪs ᴜsᴜᴀʟʟʏ ᴅɪᴠɪᴅᴇᴅ ɪɴᴛᴏ ɢᴏᴏᴅs (ᴘʜʏsɪᴄᴀʟ ᴛʜɪɴɢs) ᴀɴᴅ sᴇʀᴠɪᴄᴇs (ᴛʜɪɴɢs ᴅᴏɴᴇ ʙʏ ᴘᴇᴏᴘʟᴇ). ɪᴛ ᴀssᴜᴍᴇs ᴛʜᴇʀᴇ ɪs ᴍᴇᴅɪᴜᴍ ᴏғ ᴇxᴄʜᴀɴɢᴇ, ᴡʜɪᴄʜ ɪɴ ᴛʜᴇ ᴍᴏᴅᴇʀɴ ᴡᴏʀʟᴅ ɪs ᴀ sʏsᴛᴇᴍ ᴏғ ғɪɴᴀɴᴄᴇ. ᴛʜɪs ᴍᴀᴋᴇs ᴛʀᴀᴅᴇ ᴘᴏssɪʙʟᴇ.
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