What is Economy: Definitions, Types of Economies, and Key Economic Indicators

The economy refers to the way things are produced, traded, and consumed in a society. It is composed of various activities for production, trade, and consumption. Four types of economies exist: traditional, command, market, and mixed, each with its own set of features and operations. Key economic indicators that gauge the state of an economy include GDP, unemployment figures, inflation numbers, and consumer confidence levels, which assist policymakers as well as businesspersons in making informed choices concerning economic performance and future predictions. Visit us at https://stockmarkets.co.in/ to know about terms.