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General Concepts & Microeconomics | Chapter 1 (ZB_2.1)

Definition of 'Economy' and ‘Economics’

The economy includes all aspects of the production and consumption of goods and services in a particular area. One of the largest fields of study in human history has been spawned by the economy and the factors affecting the economy. The study of Economics can be divided into two main focus areas, microeconomics and macroeconomics.
  • Economics | Chapter 1
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