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 .

Notes

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

The Peterson Institute for International Economics forecasts that, combined with steep tariffs and mass deportation, these measures could lead to lower national income, reduced employment and inflation rates between 6% and 9.3% by 2026.

From Salon

Commentary on economics and more from a Pulitzer Prize winner.

From Los Angeles Times

Though it remains to be seen what a second Trump administration will mean for this country in terms of economics and international relations, the cultural effects have already begun: The day before I saw “Heretic,” my teenage daughter and her friends were bullied by male schoolmates who chanted “Your body, my choice — Trump 2024,” something that is occurring across the country with frightening regularity.

From Los Angeles Times

Commentary on economics and more from a Pulitzer Prize winner.

From Los Angeles Times

“The economics for us are pretty good,” Moreno said.

From Los Angeles Times

Related Words

• business
• finance
• social science