economics

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

noun

1. (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.

2. (used with a plural verb),  financial considerations; economically significant aspects.

   What are the economics of such a project?

economics

/ ˌiːkəˈnɒmɪks, ˌɛkə- /

noun

1. (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

2. (functioning as plural) financial aspects

   the economics of the project are very doubtful

economics

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

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.)

Word History and Origins

Origin of economics¹

First recorded in 1785–95; economic, -ics

Example Sentences

The economics prize is the only Nobel not among the original five created in the will of Swedish scientist Alfred Nobel, who died in 1896.

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And their next matchup will serve as a referendum on the industry’s economics.

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But economics is not the only basis on which name-change decisions have been made.

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“How much development will happen under it remains to be seen and will be driven a lot by the economics.”

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When it comes to AI, some back-of-the-envelope calculations offer a sanity check on the current economics.

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Related Words

• business 
• finance 
• social science