Economy Concept

Depending on the context, the term economy can have different meanings: in certain situations is used to designate economical science, this is, the science that studies the way how societies use their limited resources to produce goods with value and how they distribute them among the several individuals; in other situations is used as a synonym of the whole economic activity group of a country; in others still (and in a less proper way), is used as a thrift synonym, this is, the part of the income that is not spent in consumption and even as synonym of savings.      

 

 

Translated from Portuguese by Susana Saraiva, Portuguese-English and English-Portuguese translation specialist. Contact: spams@sapo.pt.