Economy, a definite historical aggregate of the relations of production, the economic basis of society. The economy of a certain country includes all industries and types of production. By economics, people understand certain economic sciences (industrial economics, agricultural economics, etc.). Inherent in every mode of production is its own economy, which is distinguished by the character of ownership of the means of production, the aims of production, and the forms and methods of economic management. The socialist economy, as the first phase of the communist mode of production, differs in principle from the^ economy of preceding stages of society by the fact that it is based on social ownership of the means of production, and its objective is to increase the well-being of the population and to promote the all-round development of every member of society. It functions in a planned way on the basis of understanding and consciously applying objective economic laws. Politics is a concentrated expression of economics. Under socialism, the policy of the Communist Party and the state expresses the economic interests of society as a whole and is aimed at strengthening and developing the socialist economy and building a communist society. The economy as an aggregate of economic sectors reflects the characteristic features of the corresponding mode of production and concrete historical conditions of the given country, determined by its geographical position, historical traditions and level of the forces of production. It includes the production sphere and the non-production sphere.