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- DictionaryEc·o·nom·ics/ˌekəˈnämiks/
plural
- 1. the branch of knowledge concerned with the production, consumption, and transfer of wealth.
- 2. the condition of a region or group as regards material prosperity: "he is responsible for the island's modest economics"
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
1. a. : a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. b. : economic theory, principles, or practices. sound economics. 2. : economic aspect or significance. the economics of building a new stadium. 3. : economic conditions. current economics.
5 days ago · economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of gentlemen of leisure and the vocation of a few academics; economists wrote about economic policy but were rarely consulted by.
Apr 4, 2024 · Economics is a social science that focuses on the production, distribution, and consumption of goods and services. The study of economics is primarily concerned with...
Economics definition: the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind.. See examples of ECONOMICS used in a sentence.
Economics is a social science that examines how people choose among the alternatives available to them. It is social because it involves people and their behavior. It is a science because it uses, as much as possible, a scientific approach in its investigation of choices. Scarcity, Choice, and Cost.
Economics can be defined in a few different ways. It’s the study of scarcity, the study of how people use resources and respond to incentives, or the study of decision-making. It often involves topics like wealth and finance, but it’s not all about money.
