what is an economy?

Dear Student,

"Economy" is used to refer to countries in economics. It actually means a set up where production, consumption and exchange of goods and services takes place within a geographical area.

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An Economy is a system spread over a particular area that reveals the nature and level of economic activities in the area. It shows how the people of the concerned area earn their living.
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economy is a system that provides people means for living or to do work
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