In a political context, "economic policy" encompasses the strategies and decisions made by governments regarding resource allocation, taxation, and spending. It addresses issues like inflation, unemployment, and economic growth, ultimately influencing the overall economy and citizens' well-being. Economic policy aims to promote stability and foster an environment conducive to investment and innovation. Additionally, it reflects a government's ideology, impacting wealth distribution and social justice. Successfully implemented economic policies can lead to improved living standards and increased public confidence in political leadership.