economics
UK: ˌiːkəˈnɒmɪks | US: ˌɛkəˈnɑːmɪks
n. the social science concerned with the production, distribution, and consumption of goods and services
n. the financial aspects of an activity, system, or process
The word economics originates from the Greek oikonomia (household management), combining oikos (house) and nomos (law/custom). Over time, its scope expanded from domestic management to broader societal resource allocation. The suffix -ics (from Greek -ika) denotes a field of study, transforming it into the modern discipline analyzing production, trade, and consumption.
She majored in economics to understand global market trends.
The government’s new policy aims to improve the economics of renewable energy.
Behavioral economics explores how psychology influences financial decisions.
The economics of small businesses differ significantly from large corporations.
His research focuses on the economics of healthcare systems.