Question

What is state economy?

Answer 1

steady-state economy is an economy made up of a constant stock of physical wealth (capital) and a constant population size. In effect, such an economy does not grow. The term typically refers to the national economyof a particular country, but it is also applicable to the economic system of a city, a region, or the entire world. Early in the history of economic thought, classical economist Adam Smith of the 18th century theorised on the concept of a stationary state of an economy. Smith conjectured that any national economy in the world would sooner or later settle in a final state of stationarity.

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Answer 2

Answer:

An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. In an economy, the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.