Difference between economy and economy.

The economy is often equated with the economy. How correct is this identification? And if these are different concepts, then how is the economy different from the economy? Let's try to figure it out.


The term " economics" is interpreted ambiguously in the special literature. This word means both the financial condition, the organization of any economic system, and production relations, and the science of how to rationally use resources so that the needs of people are met.

The economy is interpreted as the totality of what refers to the implementation of production in any area (agriculture, fisheries, forestry). Often the concept is associated with a certain social order (serf economy) or territory (economy of Russia).


Considering the difference between the economy and the economy, it should be noted that, in general, the first concept is more voluminous and multifaceted. It includes both business activities and relationships between the interacting parties. In addition, the term "economics" contains an important theoretical part.

As a science, economics develops the basic, most effective methods of management and monitors their application. It contains knowledge about what benefits must be produced for the life support of society and how to correctly distribute what has been created. Economics studies what should be done to maximize benefits and limit costs in the production and sale of goods and services. Forecasting plays an important role here.

The economy controls the entire life-support system used by humans, which is usually called the economy. The latter includes those objects, means, intangible substances, with the help of which the production of goods takes place. The economic system consists of such sectors as industry, animal husbandry, transport, health care, education and others. The economy is divided into sectors according to the existing directions of the economy.

In general, the question of what is the difference between the economy and the economy can be answered as follows: the economy is usually viewed as a special structure with a certain organization, created by society, and the economy in this regard is most often attributed to a managing and controlling role.