economic parameters

Economic parameters are key indicators or measures that help analyze and understand how an economy is performing. They include factors like inflation rate (how quickly prices rise), unemployment rate (percentage of people without jobs but seeking work), GDP (total value of goods and services produced), interest rates (cost of borrowing money), and exchange rates (value of one currency compared to another). These parameters provide insights into economic health, guiding policymakers, businesses, and individuals in decision-making. Monitoring these parameters helps to identify trends, forecast future conditions, and implement appropriate economic strategies.