ECONOMICS

Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from +, hence "rules of the house". Political economy was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" that also avoided a narrow political-interest connotation and as similar in form to "mathematics", "ethics", and so forth.

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economics

Noun

  1. The study of resource allocation, distribution and consumption; of capital and investment; and of management of the factors of production.


The above text is a snippet from Wiktionary: economics
and as such is available under the Creative Commons Attribution/Share-Alike License.

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