Economy

Economy refers to the system by which goods and services are produced, distributed, and consumed within a society. It encompasses all the economic activities and interactions between individuals, businesses, and governments, and can be influenced by various factors including resources, labor, technology, and policies. The economy can be assessed on different levels, such as local, national, or global, and is typically characterized by concepts like supply and demand, market structures, and financial systems. It is often measured using indicators like Gross Domestic Product (GDP), unemployment rates, and inflation. The health of an economy reflects the overall well-being and prosperity of its participants, directly impacting standards of living and social stability.