Economy refers to the system by which goods and services are produced, distributed, and consumed within a society. It encompasses all activities related to the management of resources, including labor, capital, land, and entrepreneurship, to maximize efficiency and meet the needs and wants of individuals and communities. Economies can vary widely in structure, such as being market-based, command-based, or mixed, and they can be local, national, or global in scale. The performance of an economy is often measured through indicators such as Gross Domestic Product (GDP), unemployment rates, and inflation rates. The economy influences and is influenced by a variety of factors, including government policies, consumer behavior, technological advancements, and international trade. Overall, the economy plays a crucial role in shaping the quality of life and the well-being of individuals and societies.
Iyzico, a Turkish fintech giant, has acquired local payments provider Paynet for $87 million, enhancing its influence in Türkiye's digital payments sector. This acquisition, approved by the Turkish Competition Authority…