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

Chen Zhao, the head of economics research at Redfin, said new home sales - which are based on contract signings, rather than completed sales - might be an early indicator of reaction to lower mortgage rates.

From BBC

The BBC has had access to a new study carried out by David Bell, a professor of economics at Stirling University and expert in public finance.

From BBC

Tariffs have fluctuated dramatically since they were introduced - and the uncertainty is proving tough for farmers, says Christopher Wolf, a professor of agricultural economics at Cornell University.

From BBC

Stuart Mills, a lecturer in economics at the University of Leeds, says cash gives "visible and immediate feedback" on how much money you have, while a PIN is an "important friction point" for controlling spending.

From BBC

Changing industry economics have taken a toll on C-SPAN, prompting the U.S.

From Los Angeles Times

Related Words

• business 
• finance 
• social science