Economy

The economy is a system by which goods and services are produced, sold, and bought in a country or region. It comprises various sectors that contribute to the creation of wealth and the provision of services that contribute to the welfare of the population. Economies can be categorized into developed, developing, and underdeveloped sectors, with various industries and forms of government regulations influencing how they function. Economic indicators such as GDP, unemployment rates, inflation, and trade balances provide insight into the health and growth trajectory of an economy. Governments and policymakers use these indicators to design economic policies and interventions.