Economy

Economy

An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.

Data Source : Wikipedia

• Related Topics:  Economy Category, Economic Democracy - Economic Democracy Is A Socioeconomic Philosophy That Proposes To Shift Ownership And Decision-Making Power From Corporate Shareholders And Corporate Managers To A Larger Group Of Public Stakeholders That Includes Workers, Consumers, Suppliers, Communities And The Broader Public., Economic History - Economic History Is The Study Of History Using Methodological Tools From Economics Or With A Special Attention To Economic Phenomena., Economic System - An Economic System, Or Economic Order, Is A System Of Production, Resource Allocation And Distribution Of Goods And Services Within An Economy., Social Economy - The Social Economy Is Formed By A Rich Diversity Of Enterprises And Organisations, Such As Cooperatives, Mutuals, Associations, Foundations, Social Enterprises And Paritarian Institutions, Sharing Common Values And Features: • Primacy Of The Individual And The Social Objective Over Capital •..., Solidarity Economy - Solidarity Economy Or Social And Solidarity Economy Refers To A Wide Range Of Economic Activities That Aim To Prioritize Social Profitability Instead Of Purely Financial Profits., Abstract Economy - In Theoretical Economics, An Abstract Economy Is A Model That Generalizes Both The Standard Model Of An Exchange Economy In Microeconomics, And The Standard Model Of A Game In Game Theory.