The economy refers to the system of production, distribution, and consumption of goods and services within a society or geographic area. It encompasses all activities related to the management of resources, including labor, capital, and land, aimed at fulfilling the needs and wants of individuals and communities. The economy can be studied at various levels, including local, national, and global scales. Key components of an economy include markets, where buyers and sellers interact; financial institutions that facilitate transactions; and government policies that regulate economic activity. Economies are often classified into different types, such as traditional, market, command, and mixed economies, based on how resources are allocated and decisions are made. Economic health is measured by indicators such as GDP, unemployment rates, and inflation, reflecting the overall well-being of a society’s economic activities.
EU Commission President Ursula von der Leyen unveils a plan to bolster Europe's defense capabilities, titled "Plan zur Wiederaufrüstung Europas." The blueprint includes a five-point strategy, aiming to inject nearly…