Difference between revisions of "Economy"

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The economy of a nation or region refers to the sum of all legitimate activities connected to the production and distribution of goods and services, or economic activity, within its geographic boundaries. This definition can also be interpreted to include the effects of human behavior and human decision making with regard to these goods and services.<ref>{{cite web|url=http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.23.1.221|name=Retrospectives: On the Definition of Economics|org=Journal of Economic Perspectives|date=Winter 2009}}</ref>
The economy of a nation or region refers to the sum of all legitimate activities connected to the production and distribution of goods and services, or economic activity, within its geographic boundaries. This definition can also be interpreted to include the effects of human behavior and human decision making with regard to these goods and services.<ref>{{cite web|url=http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.23.1.221|name=Retrospectives: On the Definition of Economics|org=Journal of Economic Perspectives|date=Winter 2009}}</ref>

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