economic adaptation

Economic adaptation refers to how individuals, businesses, and governments adjust their strategies and behavior in response to changing economic conditions. This can include shifting spending habits, altering investment plans, or developing new products to meet new demands. Essentially, it’s the process of modifying economic activities to better align with factors like market trends, technological advances, or policy changes. These adjustments help maintain stability, promote growth, and ensure resources are used efficiently despite fluctuations in the economy.