economy

The economy is the overall system of producing, buying, and selling goods and services within a country or region. It involves how people earn income, how businesses operate, and how resources are allocated. A healthy economy means people can find jobs, goods and services are available, and prices are stable. When the economy grows, wealth increases; when it shrinks, typically unemployment rises and living standards may fall. Governments and policymakers try to manage the economy through policies that promote growth, control inflation, and ensure stability, balancing factors like employment, inflation, and growth to support overall well-being.