Abstract
Ontologies are parts of an Artificial Intelligent advance research area where it is a very familiar topic in computer science. There are many domains of interests that can utilize ontolologies to use them as the knowledge repository. Economy is one of the widely interesting topics that anyone can relate to. This research simplifies ontologies concepts using economy domain to guide people in the field of economics to understand how ontology works as well as to guide the computer software developers to understand the basic concept of economy. The economy ontology is illustrated in ontology chart and hierarchical chart.
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