Intro to Sociology

study guides for every class

that actually explain what's on your next test

Economy

from class:

Intro to Sociology

Definition

An economy encompasses all activities related to production, distribution, and consumption of goods and services within a society. It outlines how resources are allocated, jobs are created, and how wealth circulates among individuals and businesses.

© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
Glossary
Guides