In the economy of talikastan in 2015, consumption was $3000, gdp was $5500, government purchases were $1000, imports were $1000, and investment was $1000. $1500 were talikastan’s exports in 2015,
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
Economics is defined as the management of community, business, or family financial matters. An example in economics is the US stock market system.
A standard definition of economics might describe it as: A social science focused on the satisfaction of needs and desires through the allocation of scarce resources with alternative uses.
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