
Economy: Understanding Its Structure, Growth Drivers, and Global Influence
IntroductionThe economy is the framework through which societies organize the production, distribution, and consumption of goods and services. It directly affects living standards, employment opportunities, investment decisions, and the overall prosperity of nations. Understanding the economy is essential for policymakers, business leaders, and citizens alike, as it determines financial stability, influences policy decisions, and shapes long-term development strategies. Today, economies are more interconnected than ever, with global trade, technological innovation, and financial markets creating complex systems that respond to local and international factors.
Types of Economic SystemsEconomic systems define how societies allocate resources and determine production. Understanding these sys...