Economy, in this lesson, refers to the ways people use and interact with their environment to meet their needs. Economy includes how goods are produced, exchanged, distributed, and consumed. The economy is an important aspect of society, and as the economy has evolved over time, societies have, too.
This lesson will walk you through the evolution of economy from the agricultural revolution through the postindustrial era. We will look specifically at how technology and settlement changes have impacted the economy. We will also discuss the three sectors of a modern economy: primary, secondary, and tertiary.