ECONOMY

For other meanings see Economy (disambiguation)

Economy is the human activity that consists in producing, distributing, exchanging and consuming goods and services.

Traits

The main persons and organizations involved in economic activities are firms, workers, investors, consumers, States...

Economy is performed inside an economic system.

How the economy works (for example how the allocation of scarce resources is done) is studied by a social science: economics

The economy evolved in successive phases.

The ancient economy was mainly based on farming.
The industrial revolution lessened the role of farming in the last three centuries.
In modern economies there is a growing part played by services, finance, technology...

The balance between those various economic sectors differs largely between the various regions of th world