What is the meaning of economy
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yasaswi gomes
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(7290 Points)
Replied 03 February 2021
Managing resources under this philosophy - human needs are unlimited and resources are limited. Within this achieving survival though various economic activities like manufacturing and providing household income to its citizens that that they can manage basic amnesties like food, shelter and clothing. This ways, a small demand rises for consumers to have goods and manufacturers will supply it. In this, an economy overlooks circular flow of wealth - money shifts from manufacturers to consumers and back again. For this, every economy has monetary and fiscal policies to deal with inflation and tax economy to raise income to fund the infrastructure which facilitates growth ultimately. Economy is complex..
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