Scroll Top




    An economy is a system encompassing various sectors of the country. It is a large set of inter-related production and consumption activities that facilitate the movement of resources and conversion of resources from the stage of initial production to the stage of ultimate consumption.

    Why is Economy Important?

    An economy evolves based on the changes in society. As human beings evolve, their needs evolve, technology evolves, the demand for goods and services change. Thus, the composition of the economy changes with developments in society.

    Each economy is different as to its nature and composition. The progress of the economy also depends on the composition of the economy.

    Latest News

    An economy encompasses all activity-related to production, consumption, and trade of goods and services therein. An economy applies to everyone from individuals to business enterprises such as corporations or small and medium enterprises and governments. The economy of a particular region or country is influenced by the demographics of the place, culture, history, geography, and laws among other factors.

    Industry Impact

    Market-based economies allow goods to flow freely through the market according to supply and demand. The United States is considered a market economy where consumers and producers determine what’s sold and produced. Producers own what they make and decide their own prices, while consumers own what they buy and decide how much they’re willing to pay.

    There are different types of economies: Market economy, traditional economy, mixed economy and command economy. Market-based economies allow goods to flow freely through the market, according to supply and demand. The law of supply and demand can impact prices and production.


    The production and consumption of goods and services are used to meet the needs of those living and operating within the economy of a country. Various sections of the country are interconnected and integrated. They cumulatively contribute to the development of the country.


    Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

    Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

    CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

    Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

    Cleartax is a product by Defmacro Software Pvt. Ltd.

    Company PolicyTerms of use


    ISO 27001

    Data Center


    SSL Certified Site

    128-bit encryption