economics
n.
study of the management of goods and services
Economics
Economics
(n.)
The science of household affairs, or of domestic management.
(n.)
Political economy; the science of the utilities or the useful application of wealth or material resources. See Political economy, under Political.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter.
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Economics
Economics
the study of how the forces of supply and demand allocate scarce resources. Subdivided into microeconomics, which examines the behavior of firms, consumers and the role of government; and macroeconomics, which looks at inflation, unemployment, industrial production, and the role of government.
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