answersLogoWhite

0

What is economy in simple terms?

Updated: 8/23/2023
User Avatar

Wiki User

10y ago

Best Answer

Economy is the careful management of resources, such as money, materials, or labor. A saving is an example or result of such management. To make out the household budget results in a form of economy.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is economy in simple terms?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How does resources allocated in the free market economy?

well in simple terms........ if you dont do it you will get a zero!!!!


How resources are allocated in a market economy?

Mr Gerrard..... well what can i say about him?? in simple terms he is probably the best teacher ever.


How are resources allocated in a free market economy?

Mr Gerrard..... well what can i say about him?? in simple terms he is probably the best teacher ever.


What terms is used to describe the Inca Empire's unique economy?

Vertical economy


Does Pakistan have a good economy?

The mixed economy is the name given to the economy of Pakistan. The economy of Pakistan is the 44th largest in the world in terms of the nominal GDP and the 26th largest in terms of the purchasing power parity.


Has the tower of Pisa effected Europe's economy?

It would only affect the local economy in terms of tourism, but not the economy of Europe.


What are the characteristics of a mixed economy then analyze with regard to South Africa its efficiency in terms of socioeconomic services?

Efficiency of mixed economy in terms of socio-economic services


Which of the terms describes an economy in which prices form the basis for economic decisions?

market or market economy


What is better in terms of economy between Sparta and Athens?

my.html


Which country in the EU has the strongest economy in terms of trade?

Germany


How was the sugar economy of the West Indies different from the tobacco economy of the Chesapeake?

The sugar economy was very expensive and intricate work but the tobacco economy was cheap and fairly simple.


Which of the following terms best describes an economy in which producers of goods and services react to consumer choices?

market economy