Definition: Economy, "a system that manages how resources are used to generate wealth"; "economic condition in which people can buy goods and services; economy, economic activity." In this context, "eCON" stands for economic conditions. It involves a system designed to manage resources efficiently so as to maximize the production of good and service by all members of society. Economists often use the term "eCON49" to denote a certain phenomenon or situation where economies are in economic downturns due to global trade restrictions, international policies, and other external factors.
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