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

This approach, according to the economics of illegal markets, is almost certainly making the problem worse.

From The Wall Street Journal

That’s a problem in this “no hire” economy, as one economics writer put it.

From MarketWatch

At the same time, investors were starting to ask harder questions about the economics of artificial intelligence.

From The Wall Street Journal

They have fund economics, investor relationships, and hard-won reputations that make fighting for these assets the rational move.

From Barron's

We don’t know when this will happen, but economics and history tell us that it will.

From The Wall Street Journal

Related Words

• business
• finance
• social science