2. The economy is the production, distribution, exchange and consumption of goods and services
The answer is: right.
An economy is a complex system of production, distribution, exchange and consumption of goods and services. It is an essential part of human activity and necessary for any society to function. The production of goods and services involves the use of natural resources, labor and capital. Distribution involves transferring goods and services to consumers. Exchange refers to the trading of goods and services with others for mutual benefit. Finally, consumption is the use of those goods and services by individuals or groups. Together, these activities form the foundation of a strong economy that ensures everyone has the basic resources they need to survive.
