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  • Economy is the way a country or region in the world manages production, money supply, distribution and trade. 
  • Economy helps different regions to determine how goods, services, resources and money should be distributed evenly among the members of society.
  • Ecomony can be how a country or region supervises their consumtion of and the cost of goods and services. 
  • An aspect of my counrties ecomony is the amount of goods available for us to buy and how much everything costs.
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  • Economy can be who a country trades with and what they are able to trade. If a country has a high economy, it might mean that they have a large nickel mine or another expensive good exclusive to their country.
  • The word economy can be traced back to ancient Greece. The word was derived from the Greek word oikonomos, which translates to 'one who manages a household' in English. The word economy was not used in the modern context of a whole country or region until the nineteenth and twentieth centuries. 
  • An example of economy is how a country divides up their money supply. Varying countries choose to distribute their wealth differently.  Some countries choose to use their money for different public services whereas other choose to advance their trade industry.
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