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www.reference.com/article/economy-mean-38693aaefd8c348c

"Economy" means the total resources of a community or country. Therefore, economy compasses many things, such a money, the wealth of citizens, and the amount of commodities or products available for consumption. Although there are many ways of measuring the economy, the GDP, or gross domestic produc

www.reference.com/world-view/national-economy-94709838f91b4e2c

A national economy refers to the economy of an entire country. The national economy includes financial resources and management. It encompasses the value of all goods and services manufactured within a nation.

www.reference.com/article/closed-economy-db76a08fb4c833dc

A closed economy refers to an economic system which does not have business relations with any economies outside its own system. Closed economies employ barriers to the trade of goods and services, monies and intellectual property to and from their economic system.

www.reference.com/world-view/economy-important-787a0db2f343f3d6

The economy, as a system of resource use and distribution, is important because resources are finite. Understanding the economy is crucial to political awareness and becoming an informed citizen.

www.reference.com/article/market-economy-work-93067344a9029ebc

A market economy is based on the principles of supply and demand, and lets business survive or fail without much interaction from the government. A pure market economy is impractical to implement, most market economies around the world have a component of government influence.

www.reference.com/world-view/countries-market-economy-fe15b5398c7cb036

Countries whose economies attract minimal involvement of the government have a market economy. According to a 2013 Index of Economic Freedom, the United States, Canada, Denmark, the United Kingdom, Hong Kong and Mauritius have a market economy. Most market economies have a degree of state-dictated p

www.reference.com/business-finance/economy-shipping-27a935dcac06c878

Though the exact terms of economy shipping vary depending on the shipping company, in general, it is a budget-friendly form of shipping that normally takes longer than other options. Economy shipping is a suitable option for businesses that are concerned with keeping costs down or for deliveries tha

www.reference.com/article/traditional-economy-f754bb22786ee83d

In a traditional economy, products and goods are created as a result of traditions, customs and beliefs. Countries with a traditional economy use the barter system or trading as a primary form of currency. This type of economic system is generally found in rural areas or farm-based areas.

www.reference.com/article/atom-economy-8fe6a143044e37e3

Atom economy is a concept used to express how efficiently reactant atoms are used during chemical transformations. It is represented as the ratio of the total mass of the desired final product to the total mass of the atoms used to create it.

www.reference.com/article/economy-like-1920s-bb1827b805efafab

In the 1920s, the economy of the world had started recovering after World War I. The United States emerged as the dominating economic powerhouse taking over from Great Britain, which was now struggling to get back lost markets.