Wirtschaft

Wirtschaft is the German word for "economy" or "business" and refers to the overall system of production, distribution, and consumption of goods and services within a society. It encompasses how resources like labor, capital, and raw materials are utilized to meet people's needs and desires. Wirtschaft includes various sectors such as industry, agriculture, and services, and involves policies, markets, and institutions that influence economic activity. Essentially, it is the framework that determines how wealth is created, allocated, and sustained in a country or region.