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Difference between economics and economy ?

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Difference between economics and economy ?

Posted by Manvendra Singh 6 years, 11 months ago

CBSE > Class 12 > Economics

1 answers

Madhu Singh 6 years, 11 months ago

The economy can be thought of as a system of production and exchange of goods and services among people and organizations (private or public). The money, price and financial system are there to facilitate production and exchange, and provide a common unit of value to different goods and services. Traditionally, economics can be thought of as either the study of the economy or the study of rational human choice. But there is not any exact answer

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