What is the place and role of the economy of the life of society?

The economy occupies one of the leading places in the life of every society and, in general, the entire planet. The fact is that without a well-coordinated economic system, the full functioning of society is impossible. The economy is directly related to meeting the basic needs of people. It organizes employment, develops those branches of agriculture and industry that generate income for the state. If the economic system in the country works harmoniously, the material, social and cultural standard of living of the population rises.