Economic Change
Economic change refers to the shifts in the structure and performance of an economy over time. This can include changes in production methods, consumer behavior, and the overall economic environment. Factors such as technological advancements, government policies, and global trade can drive these changes, impacting industries and job markets.
These changes can lead to growth or decline in specific sectors, affecting employment rates and income levels. For example, the rise of e-commerce has transformed traditional retail, while renewable energy sources are reshaping the energy sector. Understanding economic change helps individuals and businesses adapt to new opportunities and challenges.