economics — the branch of knowledge concerned with the production, consumption, and transfer of wealth
Part of speech: NOUN
Definition: the branch of knowledge concerned with the production, consumption, and transfer of wealth
Pronunciation (IPA): /ˌiːkəˈnɑːmɪks/
Example Sentences
- After studying economics, he realized why his allowance never lasted until the end of the month.
- The economics of running a lemonade stand taught her more than any textbook.
- Understanding economics helped him explain to his wife why buying 10 pairs of shoes wasn't economically efficient.
economics
NOUN[/ˌiːkəˈnɑːmɪks/]
the branch of knowledge concerned with the production, consumption, and transfer of wealth
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🎤Pronunciation
🌳Etymology
Origin
Derived from Greek 'oikonomia', a compound of 'oikos' (house) and 'nomos' (law or principle). Originally meaning 'household management', the term evolved from describing domestic administration to encompassing the broader science of managing resources and wealth at the state level.
Breakdown
oikos (house) + nomos (law/principle) + -ics (science or study of). The suffix -ics transforms the Greek noun into an English discipline noun, indicating the systematic study of economic principles.
🎵Rhyme
🔗Collocations
📝Examples
“After studying economics, he realized why his allowance never lasted until the end of the month.”
“The economics of running a lemonade stand taught her more than any textbook.”
“Understanding economics helped him explain to his wife why buying 10 pairs of shoes wasn't economically efficient.”
“Economics is often called the dismal science, but it's quite fascinating once you get into it.”
📚Related Words
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