economics
Meaning
Economics is the social science that studies how individuals, businesses, and governments allocate resources and make decisions regarding production, consumption, and distribution of goods and services.
💡 A common mistake is confusing economics with finance; economics encompasses a broader range of topics, including social and political factors.
Example Sentences
Word in Context
Anna
sits
by
the
window
of
a
small
cafe
,
reading
notes
for
her
economics
class
.
She
makes
a
list
of
simple
examples
to
understand
how
people
decide
what
to
buy
and
how
businesses
set
prices
.
A
friend
joins
her
and
they
talk
about
a
recent
project
where
they
had
to
study
local
markets
and
compare
costs
.
By
the
end
of
the
afternoon
she
feels
more
confident
and
puts
her
papers
into
her
bag
,
ready
for
the
exam
tomorrow
.
Common Phrases
behavioral economics
microeconomics
economic theory
Related Words
Never forget "economics"
Set a daily goal, reinforce with word cards and games, and track your progress in the Vocab5000 app — learn every B2 level word permanently with our science-based repetition system.
