# economics

Pronunciation: say "ee-kuh-NO-miks" US /ˌikəˈnɑmɪks/, UK /ˌiːkəˈnɒmɪks/

## Noun

1. The study of how resources are allocated, distributed, and consumed, including capital, investment, and the management of the factors of production.
   - Simple: The study of how people make, share, and use money, goods, and services.
   - _Economics helped her understand why unemployment tends to rise during a recession._
   - _His course in economics covered everything from inflation to international trade._

## Origin

Formed from "economy" plus the suffix "-ics." "Economy" comes from Latin oeconomia, from Ancient Greek οἰκονομία (oikonomía), meaning "the management of a household."

Source: DictionaryAI, https://dictionaryai.com/define/economics (written from Wiktionary data, CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/).