Steady-state economy

A steady-state economy is an economy where the same amount of goods, services, and resources are being produced and consumed each year, meaning that the economy doesn't grow or shrink. Think of it like a bicycle: in order to stay balanced, the same amount of pedaling needs to happen every time. In a steady-state economy, the same amount of goods, services, and resources are constantly being produced and consumed, allowing the economy to stay balanced.