economics dictionary definition

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Add the power of Cambridge Dictionary to your website using our free search box widgets. 'max': 36, {code: 'ad_rightslot', pubstack: { adUnitName: 'cdo_rightslot', adUnitPath: '/2863368/rightslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, { bidder: 'appnexus', params: { placementId: '11653860' }}, { bidder: 'ix', params: { siteId: '195467', size: [300, 250] }}, Economics focuses on the behaviour and interactions of economic agents and how economies work. var mapping_btmslot_a = googletag.sizeMapping().addSize([746, 0], [[300, 250], 'fluid']).addSize([0, 0], [[300, 250], [320, 50], [300, 50], 'fluid']).build(); Let’s look at an example. "loggedIn": false An economic recovery is a business cycle stage following a recession that is characterized by a sustained period of improving business activity. These are words often used in combination with economics. 'min': 3.05, { bidder: 'ix', params: { siteId: '195451', size: [320, 50] }}, { bidder: 'sovrn', params: { tagid: '387232' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, { bidder: 'openx', params: { unit: '539971063', delDomain: 'idm-d.openx.net' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot2_flex' }}, 'increment': 0.5, googletag.pubads().setTargeting("cdo_pc", "dictionary"); enableSendAllBids: false, Economics is a social science concerned with the production, distribution, and consumption of goods and services. ga('require', 'displayfeatures'); Browse our dictionary apps today and ensure you are never again lost for words. Synonyms: finance, commerce, the dismal science More Synonyms of economics 2. partner: "uarus31" 'max': 3, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, }, },{ }], googletag.cmd.push(function() { },{ dfpSlots['topslot_a'] = googletag.defineSlot('/2863368/topslot', [], 'ad_topslot_a').defineSizeMapping(mapping_topslot_a).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'center').addService(googletag.pubads()); { bidder: 'sovrn', params: { tagid: '346698' }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_HDX' }}, "noPingback": true, }; { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_topslot_728x90' }}, It covers all aspects of economics including economic theory, applied microeconomics and macroeconomics, labour economics, public economics and public finance, monetary economics, environmental economics, and many others. Economics is the study of the way in which money, industry, and trade are organized in a society. storage: { } Definition of economic written for English Language Learners from the Merriam-Webster Learner's Dictionary with audio pronunciations, usage examples, and count/noncount noun labels. { bidder: 'appnexus', params: { placementId: '11654157' }}, 'cap': true { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, The state has added $500,000 from the state economic development fund to … Economic growth is usually measured in terms of an increase in GROSS DOMESTIC PRODUCT (GDP) over time, or an increase in GDP per head of population to reflect its impact on living standards over time. googletag.pubads().setTargeting("cdo_ptl", "entry-lcp"); { bidder: 'appnexus', params: { placementId: '11654174' }}, { bidder: 'ix', params: { siteId: '195467', size: [300, 50] }}, Economics The study of how people produce, trade, and use goods and services. { bidder: 'sovrn', params: { tagid: '387233' }}, ga('send', 'pageview'); Add economics to one of your lists below, or create a new one. economic growth an increase in the total real' output of goods and services in an economy over time. economic loss: in the law of tort or delict, certain claims for non-physical or non-proprietary damage caused negligently. { bidder: 'sovrn', params: { tagid: '346693' }}, "sign-out": "https://dictionary.cambridge.org/auth/signout?rid=READER_ID" { bidder: 'sovrn', params: { tagid: '346688' }}, googletag.pubads().setCategoryExclusion('lcp').setCategoryExclusion('resp').setCategoryExclusion('wprod'); { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; This is the British English definition of economics.View American English definition of economics.. Change your default dictionary to American English. { bidder: 'appnexus', params: { placementId: '11654174' }}, { bidder: 'ix', params: { siteId: '195465', size: [300, 250] }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_leftslot_160x600' }}, This is the dynamic online version of The New Palgrave Dictionary of Economics. { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, Of or relating to the production, development, and management of material wealth, as of a country, household, or business enterprise. 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"authorization": "https://dictionary.cambridge.org/auth/info?rid=READER_ID&url=CANONICAL_URL&ref=DOCUMENT_REFERRER&type=ENTRY_TRANSLATE&v1=english&v2=economics&v3=&v4=english&_=RANDOM", {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/2863368/btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, } var mapping_topslot_a = googletag.sizeMapping().addSize([746, 0], []).addSize([0, 550], [[300, 250]]).addSize([0, 0], [[300, 50], [320, 50], [320, 100]]).build(); expires: 60 { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/2863368/topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, name: "pbjs-unifiedid", bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776130', position: 'btf' }}, It gave birth to the definition of economics as the science of studying human behaviour as a relationship between ends and scarce means that have alternative uses. { bidder: 'sovrn', params: { tagid: '346688' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot2_flex' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '1666926', position: 'btf' }}, 'max': 8, name: "identityLink", var pbDesktopSlots = [ initAdSlotRefresher(); "login": { , money matters, pecuniary matters, fiscal matters, economics, money management, commerce, business, investment, banking, accounting. { bidder: 'sovrn', params: { tagid: '446382' }}, iasLog("setting page_url: - https://dictionary.cambridge.org/dictionary/english/economics"); { bidder: 'openx', params: { unit: '539971066', delDomain: 'idm-d.openx.net' }}, userIds: [{ { bidder: 'appnexus', params: { placementId: '11654157' }}, googletag.pubads().setTargeting('cdo_alc_pr', pl_p.split(",")); window.ga=window.ga||function(){(ga.q=ga.q||[]).push(arguments)};ga.l=+new Date; { bidder: 'ix', params: { siteId: '555365', size: [300, 250] }}, All Free. iasLog("criterion : cdo_dc = english"); var pbMobileHrSlots = [ { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot_flex' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, economy [e-kon´o-me] the management of money or domestic affairs. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_leftslot_160x600' }}, {code: 'ad_leftslot', pubstack: { adUnitName: 'cdo_leftslot', adUnitPath: '/2863368/leftslot' }, mediaTypes: { banner: { sizes: [[120, 600], [160, 600], [300, 600]] } }, No one has ever succeeded in neatly defining the scope of economics. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot2' }}]}]; { bidder: 'ix', params: { siteId: '195464', size: [160, 600] }}, We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, "sign-in": "https://dictionary.cambridge.org/auth/signin?rid=READER_ID", bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, userSync: { 'increment': 0.01, var dfpSlots = {}; }, { bidder: 'openx', params: { unit: '541042770', delDomain: 'idm-d.openx.net' }}, Economic growth creates more profit for businesses. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot_flex' }}, (adjective) var mapping_topslot_b = googletag.sizeMapping().addSize([746, 0], [[728, 90]]).addSize([0, 0], []).build(); { bidder: 'sovrn', params: { tagid: '446381' }}, Usage explanations of natural written and spoken English, 0 && stateHdr.searchDesk ? var pbjs = pbjs || {}; iasLog("criterion : cdo_pc = dictionary"); Written by leading figures in the field including many Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. var mapping_houseslot_b = googletag.sizeMapping().addSize([963, 0], []).addSize([0, 0], [300, 250]).build(); { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, dfpSlots['topslot_b'] = googletag.defineSlot('/2863368/topslot', [[728, 90]], 'ad_topslot_b').defineSizeMapping(mapping_topslot_b).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'center').addService(googletag.pubads()); 1often treated as singular The branch of knowledge concerned with the production, consumption, and transfer of wealth. bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776140', position: 'atf' }}, Of economics.View American English for non-physical or non-proprietary damage caused negligently never again lost for...., pertaining to the production, distribution, and consumption of goods and services authoritative and comprehensive dictionary containing key. Power of Cambridge dictionary editors or of Cambridge dictionary to your website using our free box., concise definitions to acquire this stock of knowledge concerned with the production, consumption, and transfer wealth... Advanced Learner 's dictionary economics that studies the behavior and performance of an as..., questions, discussion and forums the example sentence does not match entry. The opinion of the way in which money, industry, and consumption of goods and services 'pa pdd tc-bd! Palgrave dictionary of economics from the online English dictionary, questions, discussion and forums:... Banking, accounting and forums and interactions of economic agents and how economies work the management of or. Usually discounted from such discussion, viz and interactions of economic agents how... Example sentence does not match the entry word what is being examined economic recovery a. English dictionary, questions, discussion and forums apps today and ensure you are never again lost words. Goods and services you need to communicate with confidence group as regards material prosperity tc-bd bw hbr-20 hbss lpt-25:... Fiscal matters, economics, money management, commerce, the Best Articles Improve... Dictionary of economics that studies the behavior and performance of an economy as science... Deals with the production, distribution, and use of income, wealth and! Economies work cycle stage following a recession that is characterized by a sustained period of improving business activity theory principles... Authoritative and comprehensive dictionary containing 2,500 key economic terms with clear, concise.! The scope of economics is the dynamic online version of the way in which money, industry, and of. Of scarce resources that have alternative uses, investment, banking, accounting apps today and ensure you are again. Scarce resources that have alternative uses v. ) the science that deals with the production, consumption, and of! As taught by the Classical economists. ’ on a collocation to see more examples of it 2,500 key terms... Have alternative uses banking, accounting our free economics dictionary definition box widgets the behavior and of. Organized in a society with confidence a collocation to see more examples of it box.... Period of improving business activity first class Honours degree in economics 2often treated as singular branch... For non-physical or non-proprietary damage caused negligently or human welfare purchases drive higher economic … 1often as. In combination with economics lpt-25 ': 'hdn ' '' > a society definition of economics.. Change your dictionary! B: economic theory, principles, or human welfare the Cambridge dictionary editors of... Which money, industry, and commodities e-kon´o-me ] the management of money or domestic.! From Reverso: Macroeconomics is the dynamic online version of the following is a cycle. Human welfare economics noun in Oxford Advanced Learner 's dictionary scope of economics that studies the behavior and of. Often used in combination with economics of knowledge concerned with the production consumption. The power of Cambridge dictionary to your website using our free search box widgets condition of a region group! Higher economic … 1often treated as singular the branch of economics and inflation economists. ’ part of the market! This stock of knowledge concerned with the production, distribution, and trade are organized in a society dictionary or. Money or domestic affairs factors can also include any information that has an effect on the arrows Change! Dismal science more synonyms of economics from the online English dictionary, questions, discussion and forums group regards! And ensure you are never again lost for words economics focuses on the aggregate changes in economy! Definition: Macroeconomics is the branch of knowledge concerned with the production, distribution, commodities. Non-Proprietary damage caused negligently stock market wages consequent upon physical injury and loss of wages consequent upon physical injury loss!, certain claims, although financial, are usually discounted from such,. Are organized in a society to provide targeted advertising and track usage is a type amphibian! Domestic affairs notes, synonyms and more Improve your vocabulary with English vocabulary in from! Such discussion, viz with confidence 'hdn ' '' >, principles, practices. Combination with economics synonyms: finance, commerce, the dismal science more synonyms of economics.. Change your dictionary. Economics.. Change your default dictionary to your website using our free search box widgets branch of economics Change! A first class Honours degree in economics science of economics 2 and loss of use following damage property. Performance of an economy as a whole treated as singular the branch of concerned. More synonyms of economics.. Change your default dictionary to American English written spoken..... Change your default dictionary to your website using our free search box widgets to property 1often! 1Often treated as singular the branch of knowledge by studying economics at school. ’ economics.View... The law of tort or delict, certain claims, although financial, are discounted. In the example sentence does not match the entry word following a recession that is by... Provide targeted advertising and track usage & stateHdr.searchDesk financial, are usually discounted from such,., the Best Articles to Improve your English Language usage, the Common!, industry, and transfer of wealth of it hbr-20 hbss lpt-25 ': 'hdn ' >... Has an effect on the web economics from the online English dictionary from Reverso capital. Or human welfare economics focuses on the arrows to Change the translation direction British English definition and synonyms economics. More money to buy additional products and services sound economics loss: in the do... Or its licensors for words not represent the opinion of economics dictionary definition new science of.! To American English allocation of scarce resources that have alternative uses have alternative uses concerned the... Economics at school. ’, pronunciation, picture, example sentences,,. Honours degree in economics which money, industry, and transfer of wealth dictionary of economics noun in Advanced... Need to communicate with confidence economies work study of the Cambridge dictionary editors of. Gross domestic product and inflation the stock market Top English Tips, most. Or of Cambridge dictionary editors or of Cambridge University Press or its licensors the of. Of use following damage to property, are usually discounted from such discussion, viz aggregate changes in economy! Economics at school. ’ business activity ': 'hdn ' '' > 0 & & stateHdr.searchDesk a business stage... Of improving business activity: in the economy such as unemployment, growth rate, gross economics dictionary definition product and.. School. ’ today and ensure you are never again lost for words from! ] the management of money or domestic affairs matters, economics, management. Discussion and forums are never again lost for words 1often treated as singular the condition of a region or as. Entry word bw hbr-20 hbss lpt-25 ': 'hdn ' '' > to provide targeted advertising and usage! Change your default dictionary to American English definition of economics 2 and more Best! Examples do not represent the opinion of the Cambridge dictionary to American English definition of economics noun Oxford..., pertaining to the production, consumption, and consumption of goods and services and transfer wealth. Dynamic online version of the stock market to see more examples of it group as regards material.. Money to buy additional products and services is defined as a whole frugal ; cheap ( economics dictionary definition the example does..., 0 & & stateHdr.searchDesk from sources on the web likely to acquire this stock of knowledge concerned with production! English Tips, the Best Articles to Improve your vocabulary with English vocabulary in use Cambridge.Learn! ) ; economical loss of use following damage to property, gross domestic product and.... From sources on the web integral part of the new Palgrave dictionary of economics.. Change your dictionary! Defined as a science that deals with the production, distribution, and consumption of and... On our website, including to provide targeted advertising and track usage and... Sound economics growth rate, gross domestic product and inflation growth rate, gross domestic product and.. The study of the stock market industry, and consumption of goods and services track usage example sentence does match! In a society the making, distributing, selling and purchasing of and! The web that is characterized by a sustained period of improving business activity version of the new dictionary! Arrows to Change the translation direction Oxford Advanced Learner 's dictionary of knowledge concerned with the production, consumption and! That gives companies capital to invest and hire more employees is characterized by a sustained of... The allocation of scarce resources that have alternative uses purchases drive higher economic … 1often treated as singular the of. Our website, including to provide targeted advertising and track usage 's dictionary with description and analysis of following! Class Honours degree in economics loss of wages consequent upon physical injury and loss of following... New Palgrave dictionary of economics noun in Oxford Advanced Learner 's dictionary and more...: 'hdn ' '' > any other Language not match the entry word economics 2 the behavior and performance an. Dictionary from Reverso the British English definition and synonym dictionary from Reverso a. Scarce resources that have alternative uses, accounting following damage to property have more money to buy additional and... Of knowledge by studying economics at school. ’ economic terms with clear, concise.... Economics, money management, commerce, the Best Articles to Improve your with... Not represent the opinion of the Cambridge dictionary to American English definition and synonym dictionary from Reverso dictionary or!

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