Economy

The economy refers to the system of production, distribution, and consumption of goods and services within a specific region or country. It encompasses the activities and decisions of individuals, businesses, and governments regarding resource allocation. Fluctuations in economic activity can lead to periods of growth or recession, influenced by factors such as government policy, technological advancements, and global market dynamics. A strong economy often correlates with higher standards of living, while economic downturns can result in unemployment and financial hardships.