DEFINITIONS OF “THE ECONOMY” – COMPARATIVE ANALYSE

	The scope of the definition	The philosophical coverage
By “Wikipedia” “An economy consists of the economic system of a country or other area, the labour, capital and land resources, and the economic agents that socially participate in the production, exchange, distribution, and consumption of goods and services of that area.”	The scope is broad, that, the parameters of the Cobb–Douglas function exists and does important, but partly notes about economic flows.	This definition only describes the mapping of economic system in general.
By “Oxford Dictionary” “The state of a country or region in terms of the production and consumption of goods and services and the supply of money or the careful management of available resource”	The scope of the first part is narrow, that does brief note about flows of goods/services and money.	The first part of the definition poorly describes the mapping of economic system, but the second part approaches from the philosophical side to economic behaviors.
By “UK Office for National Statistics” “The economy can be viewed as the circular flow of goods and services from producers to consumers, and the corresponding flow of labour and capital into the production process. Equivalent to this is a flow of money for the services provided.”	The definition directly explains the circular flow model only.	That’s why the definition only describes the mapping of economic system from the circular flows. Philosophical approaches don’t exist.

Aghanemat Aghayev