A "stat squish" and "item squish" was implemented to lower the numbers used in the game, e.g. a legendary item previously with a level of 1000 reduced to 265. Unique class-specific buffs are added back, i.e. mages' Arcane Brilliance and priests' Mark of Fortitude. Titanforging—a random event that raises the initial item level of an item gained via drops or rewards—is still in the game; however, if the item is one of those affected by the Heart of Azeroth, then that item cannot be titanforged.
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World of Warcraft Gold (US) is a currency used in the US server as a medium of trade. WoW Gold, items are rewarded after killing the enemies. WoW gold is a limited resource and is hard to come by even though gold can be earned by various ways. It is still time intensive for any player to gather the gold needed to get better gears which make advancing easier. Because of the enormous need for WoW Gold, it has attracted many exploiters such as dupers and gold farmers. Arguing that they ruin other people's experience and enjoyment of the game, Blizzard has put up a strong fight to combat these exploiters by banning large number of accounts involved in the activities. However, there are as many players who would not want to invest their time and are willing to pay the extra money to get through the game. Generally, the price of WoW Gold in the EU servers are more expensive than those in the US.
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For future reference, it is a great option to purchase mounts and pets as a long-term investment. Not only do their prices scale well even when a new expansion drops, but there is always a demand for them. The only drawback to this strategy is you would need a hefty amount of initial wow gold investment and also maybe have to go through the motions of spending for a guild bank.
As with Jewelcrafting, Alchemy is a bit more nuanced than looking at hourly rates. Flasks will provide you with a good baseline, but if you carefully watch the market and plan your transmutes with market trends, you could see huge gains like JC. Assuming you are focusing only on selling Flasks, you will make around 2138 gold/hour if you are also an Herbalist.
In a few months only mats will be worth anything. At this point we have people with tens of millions of gold and people with just a few thousands. A flask takes tons of mats to make, and they will sell for well over 10k gold each, so the casual players won't afford them. When people realize that the rich guys will always take buying from the AH over farming their own mats, the prices will go even higher, then casuals will notice how expensive flasks are, and they will pick up alchemy and make more flasks, driving the prices down again.