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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"
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Apr 19, 2024 · Economics is the social science that studies how people make choices under scarcity and how economies work. Learn about the history, branches, methods, and applications of economics from Britannica.
Apr 4, 2024 · Economics is a social science that studies how people allocate scarce resources for production, distribution, and consumption. Learn about the branches, indicators, and systems of economics, and how they affect individuals, businesses, and nations.
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.
Learn the meaning of economics, a social science that studies the production, distribution, and consumption of goods and services. See examples, word history, phrases, and related entries.
Economics is the science of the production, distribution, and consumption of goods and services, or the material welfare of humankind. Learn the origin, synonyms, and usage of economics with examples and related words.
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.
Learn the definition of economics as a social science that examines how people choose among the alternatives available to them. Explore the concepts of scarcity, choice, and opportunity cost, and the three fundamental economic questions: what should be produced, how should it be produced, and for whom should it be produced.
