The term “economic policy” encompasses the strategies and decisions made by a government regarding the management of its economy. It includes elements like monetary policy, which influences interest rates and inflation, and fiscal policy, which involves government spending and taxation. Economic policy aims to promote sustainable growth, reduce unemployment, and maintain price stability. Additionally, these policies can address issues such as income inequality and economic development. Effective economic policy reflects a balance between regulation and market freedom, impacting the overall well-being of the populace and the nation's economic health.