What is economy in economics?

An economy is a system of making and trading things of value. It is usually divided into goods (materials and objects) and services (things people do). An economy assumes that there is a medium of exchange, which, in the modern world, is called ' finance '. This makes trade possible.

What does economy mean in a sentence?

An economy involves determining who is able to purchase goods and services and how they will get them. 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.

What makes up an economy?

An economy includes all of the systems, activities, and organizations that determine who gets goods and services, how many goods and services there are, and how they can be exchanged or owned. Stores, factories, companies, governments, customers, money, trade, taxes, and many other things all work together to make up an economy.