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

Related Words

• business 
• finance 
• social science