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Economy Terms and Definitions

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ECONOMIC Defined for English Language Learners
BREAKING DOWN 'Economic Value'

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Economic definition, pertaining to the production, distribution, and use of income, wealth, and commodities. See more.

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Definition of economics. 1a: a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and servicesb: economic theory, principles, or practices sound economics. 2: economic aspect or significance the economics of building a new stadium.

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Economics definition, the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. See more. Define economic. economic synonyms, economic pronunciation, economic translation, English dictionary definition of economic. adj. 1. a. Of or relating to the production, development, and management of material wealth, as of a country, household, or business enterprise. b.

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Definition of economic a.: of, relating to, or based on the production, distribution, and consumption of goods and services. economical 1. having practical or industrial significance or uses: affecting material resources. profitable. archaic: of or relating to a household or its management. Definition of economics: The theories, principles, and models that deal with how the market process works. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are.