An economy is a financial ecosystem of a region or country. It refers to the money generated based on the production, distribution, exchange, and consumption of goods and services inside it.
You can understand a little bit more about the economy by referring to the supply chain process below:
When you buy a bag of bread from a grocery store, did you ever think of the economic cycle it goes through? The bag of bread has to be produced at a manufacturing unit and then distributed to many individual grocery stores. And finally, you buy it from the nearest store and consume it. This cycle is a financial ecosystem of a region or a country, and in other words, the economy.
What does the slow down of the economy mean?
Sometimes you hear the economists saying that the economy is slowing down, which means that one or more of these below-mentioned conditions might have happened.
Less expenditure because of the unemployment issue among a large group of people in India
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