Economy refers to the system by which goods and services are produced, distributed, and consumed in a society. It encompasses the various financial activities that relate to the management of resources, including the production of goods, labor, trade, and finance. The economy can be analyzed on different scales, from local and national to global levels. It includes various sectors, such as agriculture, manufacturing, services, and technology, and involves interactions among individuals, businesses, and governments. Economies can be classified as market-based, command-based, or mixed, depending on the degree of government intervention and the nature of market mechanisms. Economic performance is often measured using indicators such as GDP (Gross Domestic Product), employment rates, inflation, and trade balances, reflecting the health and dynamics of the economic environment.
U.S. imposed new tariffs under Trump, sparking retaliatory measures from China and Canada. China targets U.S. agriculture, planning tariffs on items like chicken, cotton, corn, and wheat. Canada responds by…
Cocoa bean prices have soared to record highs, impacting chocolate costs globally. Belgium's chocolate industry struggles with rising costs, confronting challenges in balancing profitability and survival. Cocoa prices surged from…