Difference between economy and economics
April 29, 2019
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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.
