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What is Economy (as Economic System)
Economy means a management of an entity or a system (e.g. organization) and its result. It is also an economic scientific discipline (e.g. Business economics etc.)

Economy as an economic system is a term that means a management of an entity or a system (e.g. organization, state) and its result.

  • Business Economics examines the organization as a time-varying unit that transforms inputs into outputs. Business Economics realizes the production process.

A term for a separate scientific discipline is called economics.

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Last update: 16.02.2016

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