An economy of a particular country is consisted on production, consumption, trading of goods and the services in a region. A nation is totally depended on the economic position of a nation.The economy may be measured as having developed through the following stages of priority:
In past the economy was Chiefly based on farming.
The industrial revolution stage decreased the role of subsistence farming.
GDP (Gross Domestic Product) of a nation is a measured through which the size of an economy can be measured. Except of GDP there are several methods to measure the economy out of which some are as follows:
- Exchange Rate
- GDP per capita
- Consumer spending
- GNP (Gross National Product)
- Interest Rate
- Rate of Inflation
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Real Growth Rate (%)
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