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The economy represents the collective system of production, distribution, and consumption of goods and services within a society or geographic area. It encompasses various sectors, including agriculture, manufacturing, and services, which contribute to the overall economic activity. Economic health is often measured by indicators such as Gross Domestic Product (GDP), unemployment rates, and inflation. A strong economy typically features low unemployment, stable prices, and sustainable growth, while a weak economy may struggle with high unemployment, inflation, and stagnant or declining growth. Governments and central banks play crucial roles in managing the economy through fiscal and monetary policies, aiming to achieve stable economic conditions and foster long-term prosperity.
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The economy represents the collective system of production, distribution, and consumption of goods and services within a society or geographic area. It encompasses various sectors, including agriculture, manufacturing, and services, which contribute to the overall economic activity. Economic health is often measured by indicators such as Gross Domestic Product (GDP), unemployment rates, and inflation. A strong economy typically features low unemployment, stable prices, and sustainable growth, while a weak economy may struggle with high unemployment, inflation, and stagnant or declining growth. Governments and central banks play crucial roles in managing the economy through fiscal and monetary policies, aiming to achieve stable economic conditions and foster long-term prosperity.
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