What is economy
An economy is a system which provides people the means to work and earn a living.
Economy is system by which people of an area earn their living.
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It is the study of how society uses its limited resources…
the state of a country or region in terms of the production and consumption of goods and services and the supply of money.
Economics\xa0is a science that studies human behavior which aims at allocation of scarce resources in such a way that consumer can maximise\xa0their satisfaction, producers can maximise their\xa0profits and society can maximise its social welfare. It is about making choice in the presence of scarcity.