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Economy

Page history last edited by Dmitry Sokolov 5 years, 3 months ago

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https://en.wikipedia.org/wiki/Economy

An economy (From Greek οίκος – "household" and νęμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location. Understood in its broadest sense, 'The economy is defined as a social domain that emphasizes the practices, discourses, and material expressions associated with the production, use, and management of resources'.^[1] Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Monetary transactions only account for a small part of the economic domain.