Economy refers to the system by which goods and services are produced, distributed, and consumed within a society. It encompasses the various structures and processes that influence the allocation of resources, the flow of money, and the dynamics of supply and demand. Economies can be described as traditional, market, planned, or mixed, based on how decisions are made and how economic activities are directed.
The economy is often assessed through indicators such as gross domestic product (GDP), unemployment rates, inflation, and trade balances. It can be influenced by various factors, including government policies, consumer behavior, technological advancement, and external economic conditions. The study of economy, known as economics, involves analyzing how individuals, businesses, and governments interact within this system and make choices regarding resource use.
Australia’s Economy Powers Past Global Slowdown—But Can It Keep Defying the Odds in 2025? OECD forecasts reveal Australia set for stronger growth than other major economies—even as global uncertainty mounts in 2025. Quick Facts: Australia’s GDP growth forecast for 2025: 1.8% (OECD average: 1.4%) Economic hit from weather disasters: $2.2 billion US economic growth forecast … Read more
Tesla’s presence on Wall Street may have waned, but the tech sector is vibrant with massive investments from giants like Apple, Nvidia, and TSMC. Apple plans a substantial $500 billion investment in the U.S., creating 20,000 jobs despite tariff concerns. Oracle, OpenAI, and SoftBank unveil ‘Stargate,’ a $500 billion AI initiative aiming to generate 100,000 … Read more
The U.S. strategy under Treasury Secretary Scott Bessent aims to severely restrict Iran’s oil exports, aiming to cripple its economy. The approach relies heavily on economic sanctions designed to undercut Iran’s energy sector and diminish its military capabilities, like drone production. Global financial pressures are part of the plan, including severing Iran’s ties to international … Read more