Economic changes refer to shifts and transformations in the economic systems, structures, and conditions of a society. These changes can include alterations in production methods, distribution networks, trade policies, labor practices, and financial systems.
Related terms
Globalization: The process of increasing interconnectedness between countries through the exchange of goods, services, ideas, and cultures.
Industrialization: The development of industries on a large scale involving mechanized production processes.
Capitalism: An economic system characterized by private ownership of resources and businesses with an emphasis on profit-making.