The economy is the set of interconnected production and consumption activities that determine how scarce resources are allocated. An economy produces and consumes goods and services to meet the needs of its residents and workers.
Economics still focuses on the behaviors and dealings of economic variables and how economies function. The economy reveals how a region spends and makes money. In addition to the production of goods and services, the production process also includes the organizations and institutions involved. The products are processed or manufactured by companies, and then are consumed by other companies or individuals. Here is link to help you further understand.
