ECONOMY

Economy

An economy or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.

The above text is a snippet from Wikipedia: Economy
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economy

Noun

  1. Effective management of the resources of a community or system.
  2. Collective focus of the study of money, currency and trade, and the efficient use of resources.
  3. Frugal use of resources.
  4. The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
  5. The method of divine government of the world.
  6. Management of one’s .

Adjective

  1. Cheap to run; using minimal resources; representing good value for money.
    "He bought an economy car."
    "Economy size".


The above text is a snippet from Wiktionary: economy
and as such is available under the Creative Commons Attribution/Share-Alike License.

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