An economy is both a social and a financial system.

Question

Quizplus · Accepted Answer

An economy involves the production, distribution, and consumption of goods and services by individuals and firms in a society for the purpose of meeting the needs and wants of people. It also involves financial systems such as banks, stock exchanges, and other financial institutions that facilitate the flow of money and capital within the economy. Therefore, an economy is both a social and a financial system.

An Economy Is Both a Social and a Financial System