Economy refers to the system of production, distribution, and consumption of goods and services within a society or geographic area. It encompasses the various institutions, markets, and mechanisms that facilitate economic activity, including labor, capital, and resources. The economy can be classified into different types, such as traditional, market, command, or mixed economies, each with distinct characteristics regarding how decisions are made and resources are allocated. Economic performance is often measured through indicators like Gross Domestic Product (GDP), unemployment rates, inflation, and trade balances. The study of economics seeks to understand how individuals, businesses, and governments interact within this system, addressing issues of scarcity, efficiency, and equity. Ultimately, the economy influences and reflects the overall wealth and welfare of a society, shaping living standards and quality of life.
Workers at Cetursa have paused their planned strikes at Sierra Nevada due to ongoing negotiations. The suspension follows deliberations among major unions, wary of mandatory minimum services imposed by the…
France and Portugal are proposing reciprocal tariffs on steel and aluminum in response to U.S. duties. This strategy is announced as part of a broader European effort to protect industries…