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What Is An Economy |
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| Date Added: January 20, 2010 06:02:43 AM | |
| Author: YanyXX.com | |
| Category: Business & Economy | |
An economy consists of the realized economic system of a country or other area, the labor, capital and land resources, and the economic agents that socially paticipate in the production, exchange, distribution, and consumption of goods and services of that area. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. |
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