With China is Taiwan's economy tightly interconnected (especially with regard to manufacturing)
What is economy?
- An economy is the area of production, distribution, trade and consumption of goods and services.
- Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
- An economy is a system of interconnected production and consumption activities that ultimately determine the allocation of resources within a group.
- The production and consumption of goods and services as a whole meet the needs of the people who live and work there.
- Economy is the process or system by which goods and services are produced, sold and purchased in a country or region.
- The increase in tourists helps the city's economy.
- The economy can be classified into four main types: the traditional economy, the command economy, the mixed economy, and the market economy.
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