The term "economic" relates to the production, distribution, and consumption of goods and services. It involves how individuals, businesses, and governments make choices about using their resources. For example, when a family decides to save money for a vacation, they are making an economic decision that reflects their priorities and available resources. In a broader sense, "economic" can describe the health of a country or region. Factors like employment rates, inflation, and GDP (Gross Domestic Product) help measure economic performance. A strong economy typically means more jobs and better living standards for people, while a weak economy can lead to challenges like recession and unemployment.