What is Economy

What is Economy?

The origin of the word economy comes from the Greek. Derived from the Greek words "House" and "Rule", the concept of economy took off. In Greek, it is also known as home management for short. In terms of economy, production and distribution, it is a human activity that gives detailed information about imports and exports. We can also call it a human activity that has emerged to meet all the needs of man in the world.

The economy can occur in a specific region, or it can occur throughout the world. For example, each country has its own economic system and economic situation. As the economic situation differs between countries, it also contains very important data about country relations. The economy is also known as the whole of trade, production and earnings between countries. With the development of technology, some changes have been seen in the concept of economy. For example, with the development of technology and the increase in industrial activities, economic activities have increased even more than in history. Economy has become one of the most important concepts among people throughout history. There are 3 sectors in total in the economy. These sectors are as follows;

- Primary sector

- Secondary sector

- Tertiary sector

When Did It Appear?

The concept of economy emerged with the industrial revolution. It is known that political economy was born when industrial activities between countries increased with the industrial revolution. The exact origin of the economy in history is known as the beginning of the 18th century. With the industrial revolution, the concept of economy has spread all over the world and has become one of the most important concepts.