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  1. › wiki › EconomicsEconomics - Wikipedia

    Definitions of economics over time. The earlier term for the discipline was 'political economy', Since the late 19th century, it has commonly been called 'economics'. Cited to the Ancient Greek οἰκονομικός (oikonomikos), "practiced in the management of a household or family" and therefore "frugal, thrifty", which in turn comes from οἰκονομία (oikonomia) "household ...

  2. Ancient Egypt was home to almost half of the global population by 30th century BC. The city states of Sumer developed a trade and market economy based originally on the commodity money of the shekel which was a certain weight measure of barley, while the Babylonians and their city state neighbors later developed the earliest system of prices using a metric of various commodities that was fixed ...

  3. THE DEBATE Several scholars describe the 17th century as a period of crisis. A debate has been going on among historians on the nature and the scale of the problems that Europe experienced. Though the debate is still alive, the majority of scholars believe that the 17th century was a period of crisis. Further discussions are elaborated below.

  4. The word entrepreneur is derived from a French word ‘Entreprendre’ which refers to ‘undertake’. During 16th century the French man who orga­nized and led military tradition was called an entrepreneur. After 17th century, the term was used for adventurers, civil engineers, who were involved in construction work.

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