Economy: Agriculture, Trade and Industry

Economy: Economics, Saving, resources, money, finance, Economy

(Husbandry)

Economy: Features or Characteristics

 Country or Region, even Global
 The wealth of a country
 The resources of a country
 Production or manufacturing of goods (physical things)
 A System of making and trading things
 Organizations or agents
 Demand of items or goods
 Distribution of goods
 Trade
 Consumption of goods
 Careful Management of resources
 Offer services (things done by people)
 Offering best value for the money
 Saving of money

Economy: Definition and Meaning

The state of a country or region in terms of the production and consumption of
goods and services and the supply of money.

The wealth and resources of a country or region, especially in terms of the

production and consumption of goods and services

OR

The careful management of available resources.

Economy: Types of Economies

There are four different types of economies

1. A traditional economy

2. A market economy,

3. Command economy

4. A mixed economy.

Each type of economy has its own strengths and weaknesses.

Types of Economics: Two major types

1. Microeconomics: which focuses on the behavior of individual consumers
and producers. Or

which focuses on individual consumers and businesses.

2. Macroeconomics: which examine overall economies on a regional, national,

or international Scale. Or

Which concentrates on the behavior of the aggregate economy,