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Difference between economy and economics

29/4/19 Difference between economy and economics

The economy is, according to the Oxford Learner’s Dictionary, “the relationship between production, trade and the supply of money in a particular country or region”, so we can say, for example: The economy is in recession.

Economics is a science that studies economies and develops possible models for their functioning, e.g. 
He studied economics at the London School of Economics.



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