economics

American  

[ek-uh-nom-iks, ee-kuh-] / ˌɛk əˈnɒm ɪks, ˌi kə- /

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?

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economics British  

/ 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

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economics Cultural  

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

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Discover More

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.)

Etymology

Origin of economics

First recorded in 1785–95; economic, -ics

Example Sentences

David grew up in Mexico to American parents and received a bachelor's in economics from The College of William and Mary.

From The Wall Street Journal

Classes included economics and English, as well as meditation, calligraphy and kendo, a martial art.

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The drop in prices has compressed margins, as mining economics work against producers in a downturn when network difficulty continues to rise, driving energy and computing costs up while the value of mined coins declines.

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Jeanne also spent six years as a business and economics reporter at The Washington Post.

From The Wall Street Journal

Mr. Amodei seems to base his prediction of massive and imminent job loss on his technological expertise, which is vast, rather than on his understanding of economics, which isn’t.

From The Wall Street Journal

Related Words

• business
• finance
• social science