Deindustrialization refers to the loss of high-paying manufacturing jobs, resulting in the decline of the middle class who end up in low-paying service jobs.
There has been some kind of economy in the world ever since the first people exchanged goods for one another. It is the way people make the best use of what they have to satisfy their wants and requirements. The social structures that manage a society's resources (goods and services) are referred to as its economic system. Goods are the tangible items we locate, cultivate, or create to satisfy our wants as well as the needs of others. Goods might be necessities, like housing, clothing, and food, or they can be luxuries, like the things we don't actually need but yet want. Commodities are created goods intended for market sale.
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