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economics

[ ek-uh-nom-iks, ee-kuh- ]

Phonetic (Standard)IPA

noun

(used with a singular verb) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind.
(used with a plural verb) financial considerations; economically significant aspects:
�� are the economics of such a project?

economics

/ ˌiːkəˈnɒmɪks; ˌɛkə- /

noun

functioning as singular the social science concerned with the production and consumption of goods and services and the analysis of the commercial activities of a society See also macroeconomics microeconomics
functioning as plural financial aspects
the economics of the project are very doubtful

economics

The science that deals with the production, distribution , and consumption of commodities .

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Notes

Economics is sometimes referred to as the “dismal science.”

Economics is generally understood to concern behavior that, given the scarcity of means, arises to achieve certain ends. When scarcity ceases, conventional economic theory may no longer be applicable. ( See affluent society .)

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Word History and Origins

Origin of economics¹

First recorded in 1785–95; economic, -ics

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Example Sentences

Examples have not been reviewed.

However, Juan Carlos Hallak, professor of international economics at the University of Buenos Aires, has a counterpoint.

From

“The economy does best when government doesn’t pick winners and losers,” said Wayne Winegarden, senior fellow of business and economics at Pacific Research Institute, a California-based think tank that advocates for free markets.

From

To abandon that baseline requirement of rationality is to abandon economics, period.

From

We are in relatively unknown territory in modern economics and the picture seems to change almost every day, so predictions have to be taken with a large dose of salt.

From

“Rational economics is ill-suited to respond to how Trump is behaving,” Klein said.

From

Related Words

economic rent economic sanctions

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