Economics — Meaning, Definition & Synonyms

noun /ˌe-kə-ˈnä-miks/ eco·nom·ics

Meaning & Definition of Economics

Economics (noun)

  1. a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services
  2. economic theory, principles, or practices
  3. economic aspect or significance

Origin & Etymology of Economics

earlier oeconomicks "science or art of managing a household" from oeconomick, economike in same sense (Middle English iconomique, borrowed from Middle French yconomique, borrowed from Medieval Latin economica, feminine singular or neuter plural of oeconomicus "relating to the management of a household") + -ics economic

First known use: 1792

Vocabulary Lists & Topics for Economics

Words & Phrases Containing Economics

geoeconomics, home economics, new economics, supply-side economics

Frequently Asked Questions about Economics

What does "Economics" mean?

"Economics" means a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. As a noun, it is defined as: a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. It has 3 distinct senses.

Is "Economics" a noun, verb, or adjective?

"Economics" is a noun.

Is "Economics" useful for IELTS, TOEFL, and other English exams?

As a B2-level word, "Economics" is typical of Cambridge B2 First (FCE), IELTS band 5.5–6.5, TOEFL iBT 72–94, PTE Academic 59–75, TOEIC Listening & Reading 785+.

How do you pronounce "Economics"?

"Economics" is pronounced /ˌe-kə-ˈnä-miks/ and divided into syllables as eco·nom·ics.

What is the origin of the word "Economics"?

"Economics" comes from earlier oeconomicks "science or art of managing a household" from oeconomick, economike in same sense (Middle English iconomique, borrowed from Middle French yconomique, borrowed from Medieval Latin economica, feminine singular or neuter plural of oeconomicus "relating to the management of a household") + -ics economic. First known use: 1792.

What CEFR level is "Economics"?

"Economics" is a B2-level word in SophDict's CEFR vocabulary lists, which group English words from A1 (beginner) to C2 (proficient).

What topics is "Economics" used in?

"Economics" is commonly used in topics such as Business & Economics.