What does the economy of a community include?

The economy of a community primarily encompasses aspects related to the financial and occupational aspects of its residents. This includes the income levels individuals earn, which reflects the economic stability and purchasing power of the community members, as well as the various occupations they hold, which indicates the types of industries and skills present in that area. Understanding these factors is crucial for assessing the overall economic health and opportunities available within a community.

Community customs and traditions, historical backgrounds, and social networks, while significant to the cultural and social fabric of a community, do not directly encapsulate economic characteristics. They may influence economic behavior or conditions but do not comprise the economic structure itself. Therefore, focusing on income level and occupational data provides a clearer picture of the community's economy.