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Economy

Meaning: 

An economy is the system through which a country or region produces, distributes, and consumes goods and services. Simply put, the economy is how money flows, and how people earn, spend, save, produce, and trade.

Example:

In India, the economy includes everything from farmers growing crops to shops  selling food and people working in offices.

How to understand Economy:

The economy helps determine how much money people earn and how they can spend it.
It affects the availability of jobs and the prices of things we buy.

Importance of Economy:  

A strong economy creates jobs and supports people's livelihoods.

It helps improve living standards by providing goods and services.







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