An economy consists of the economic system in a certain region,
comprising the production, distribution or trade, and
consumption of goods and services in that region or country. An
economy is the total aggregate sum of all transactions of value
between two agents, such as one individual to one other
individual, or between groups of individual activity, such as in
organizations to other organizations, and between one nation and
another nation. Transactions only occur when both parties agree
to the value, commonly expressed in some currency, or price.
Then and only then is the sale of good or service acted on in
the transaction. An economy represents the diverse activity of
all agents engaged in the production of valuable goods and
services for other agents in the economy. In the past, economic
activity was theorized to be bounded by natural resources,
labor, and capital. This view ignores the value of technology
(automation, accelerator of process, reduction of cost
functions), and creativity (new products, s