Search results
The meaning of ECONOMY is the structure or conditions of economic life in a country, area, or period; also : an economic system. How to use economy in a sentence.
News about Economy of Russia, Goldman Sachs, Jan Hatzius
News about Florida Atlantic University, Qualcomm, Canada Goose Holdings
News about democracy, Bifurcation, economy
Also in the news
- What Is An Economy?
- Understanding Economies
- Types of Economies
- Studying Economies
- Economic Indicators
- History of The Concept of Economy
- The Bottom Line
An economy is a complex system of interrelated production, consumption, and exchange activities, which ultimately determine how resources are allocated among participants. The production, consumption, and distribution of goods and services combine to fulfill the needs of those living and operating within the economy. An economy can encompass a nati...
An economy encompasses all of the activities related to the production, consumption, and trade of goods and services in an entity, whether the entity is a nation or a small town. No two economies are identical. Each is formed according to its own resources, culture, laws, history, and geography. Each evolves according to the choices and actions of ...
In the modern world, few nations are purely market-based or purely command-based. But most lean toward one or the other of these models.
The study of economies and the factors affecting economies is called economics. The discipline of economics can be broken into two major areas of focus: microeconomics and macroeconomics.
As noted above, macroeconomics is the study of the big picture and that picture is incomplete without a set of economic indicators. These are some of the most closely-watched of those indicators.
The word economy derives from the Greek term for household management ("oikonomia") and the word is still used in that context. Economics as an area of study was touched on by philosophers in ancient Greece, notably Aristotle, but the modern study of economics began in 18th-century Europe, particularly in Scotland and France.
An economy is system of production and consumption activities that determine the allocation of limited resources. Every individual within an economy contributes to it in some form. In return, each expects a share of the goods and services provided by other members of the community.
- Will Kenton
- 2 min
A market economy is one where goods and services are produced and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency.
Economy definition: the complex of activities related to the consumption, production, and trade of goods and services, as an ongoing functioning system. See examples of ECONOMY used in a sentence.
Definition of economy noun from the Oxford Advanced Learner's Dictionary. economy. noun. /ɪˈkɒnəmi/ /ɪˈkɑːnəmi/ (plural economies) (often the economy) [countable] the relationship between production, trade and the supply of money in a particular country or region. The economy is in recession.
ECONOMY definition: 1. the system of trade and industry by which the wealth of a country is made and used: 2. the…. Learn more.
ECONOMY meaning: 1 : the process or system by which goods and services are produced, sold, and bought in a country or region; 2 : careful use of money, resources, etc.
