The statement "the system of production and distribution and consumption" is one of many definitions of Economy. Option C
This is further explained below.
<h3>What is
the Economy?</h3>
Generally, A region that engages in the production, distribution, and trading of commodities and services, in addition to their consumption, is referred to as an economy.
It is a social domain that emphasizes the activities, and material manifestations that are involved with the creation, use, and management of finite resources. In a broad sense, this definition describes what it is.
In conclusion, One definition of "economy" is "the organization of distribution and production and consumption," although this is only one of many possible meanings.
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