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Economics


Economics (/kəˈnɒmɪks/, /ɛkəˈnɒmɪks/, /ɛkəˈnɑːmɪks/, /ikəˈnɑːmɪks/) is a social science concerned with the factors that determine the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from (oikos, pronounced eekos, "house") and (nomos, "custom" or "law"), hence "rules of the house (hold for good management)". 'Political economy' was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" to establish itself as a separate discipline outside of political science and other social sciences.



a branch of the science of a statesman or legislator [with the twofold objectives of providing] a plentiful revenue or subsistence for the people ... [and] to supply the state or commonwealth with a revenue for the publick services.
The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.
Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man.
Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
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Institutions and organizations
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1,000 EXTRA POINTS!

Don't forget! that as one of our early users, you are eligible to receive the 1,000 point bonus as soon as you have created five (5) acceptable piglix.

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