The meaning of ECONOMICS is a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. How to use economics in a sentence.
ECONOMICS meaning: 1 : a science concerned with the process or system by which goods and services are produced, sold, and bought; 2 : the part of something that relates to money
economics [ ek-uh-nom-iks, ee-kuh- ] Phonetic (Standard) IPA noun (used with a singular verb) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. (used with a plural verb) financial considerations; economicall...
terms of tradepl n (Economics) economics Brit the ratio of export prices to import prices. It measures a nation's trading position, which improves when export prices rise faster or fall slower than import pricesCollins English Dictionary – Complete and Unabridged, 12th Edition 2014 © Harper...
economic - concerned with worldly necessities of life (especially money); "he wrote the book primarily for economic reasons"; "gave up the large house for economic reasons"; "in economic terms they are very privileged" worldly, secular, temporal - characteristic of or devoted to the temporal ...
In this lesson, learn about terms of trade in economics. Understand what influences the terms of trade and how to calculate it using the terms of trade formula. Updated: 11/21/2023 Table of Contents Terms of Trade in Economics Lesson Summary Frequently Asked Questions Why terms of trade ...
THE DEFINITION OF ECONOMICS* KENNETH RIVETT Article first published online: 9 MAY 2008 DOI: 10.1111/j.1475-4932.1955.tb02931.x Issue Economic Record Volume 31, Issue 1-2, pages 215–231, May 1955 Additional Information How to Cite RIVETT, K. (1955), THE DEFINITION OF ECONOMICS. Economic...
Fields such as health care, biology, chemistry, physics, education, engineering, business, and economics make extensive use of statistical inference. Methods of probability were developed initially for the analysis of gambling games. Probability plays a key role in statistical inference; it is used ...
Answer to: Write down the definition of the following economic terms: Inflation By signing up, you'll get thousands of step-by-step solutions to...
Example: “She decided to major in economics to understand global financial systems better.” Economy (Noun) The state of a country or region in terms of the production and consumption of goods and services and the supply of money. Example: “The economy has been growing at a steady pace ...