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Apr 19, 2024 · In the 20th century, English economist Lionel Robbins defined economics as “the science which studies human behaviour as a relationship between (given) ends and scarce means which have alternative uses.” In other words, Robbins said that economics is the science of economizing.
Sep 28, 2017 · 1590s, "pertaining to management of a household," perhaps shortened from economical, or else from French économique or directly from Latin oeconomicus "of domestic economy," from Greek oikonomikos "practiced in the management of a household or family" (also the name of a treatise by Xenophon on the duties of domestic life), hence, "frugal ...
The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager". Derived terms such as "economy" can therefore often mean "frugal" or "thrifty".
Jan 29, 2024 · Economics in its basic form began during the Bronze Age (4000-2500 BCE) with written documents in four areas of the world: Sumer and Babylonia (3500-2500 BCE); the Indus River Valley Civilization...
Apr 8, 2020 · ORIGIN OF THE WORD “ECONOMICS”. The word ‘Economics’ is derived from a Greek word “Oikonomos”, where Oikos mean Household and nomos mean rule, law or management. So Oikonomos means “household management” or “management of house affairs”-i.e., how people earn income and resources and how they spend them on their necessities ...
Where does the noun economics come from? Earliest known use. mid 1500s. The earliest known use of the noun economics is in the mid 1500s.
