Economy

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Economy

Meaning:

An economy refers to the system through which a country or region produces, distributes, and consumes goods and services. It describes how money flows and how people earn, spend, save, produce, and trade.

Example:

For instance, in India, the economy includes various sectors like agriculture, manufacturing, and services, all contributing to the overall economic activity.

How to understand Economy:

The economy determines national growth, income levels, and living standards.

It influences job creation, helping people find work and earn money.

Importance of Economy:

A healthy economy supports government revenue, which funds public services like schools, roads, and hospitals.

It controls inflation and interest rates, contributing to financial stability.

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Economy

Importance of Economy:

A healthy economy supports government revenue, which funds public services like schools, roads, and hospitals. It controls inflation and interest rates, contributing to financial stability.

A healthy economy supports government revenue, which funds public services like schools, roads, and hospitals.

It controls inflation and interest rates, contributing to financial stability.