Economia refers to the system that deals with the production, distribution, and consumption of goods and services within a region or country.
Related terms
Gross Domestic Product (GDP): A measure that represents the total value of goods and services produced within a specific time frame in a particular region or country.
Inflation: A sustained increase in the general price level of goods and services over time, reducing purchasing power.
Supply and demand: The fundamental economic principle that states prices are determined by the balance between what producers supply and what consumers demand.