Economy Overview

A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors.

An economy is an area of the production, distribution and trade, as well as consumption of goods and services.

Economic agents can be individuals, businesses, organizations, or governments.

<p>Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.</p> Signup and view all the answers

<p>Economic activity is spurred by production which uses natural resources, labor and capital.</p> Signup and view all the answers