ec·o·nom·ics

[ek-uh-nom-iks, ee-kuh-]
noun
1.
( 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.
2.
( used with a plural verb ) financial considerations; economically significant aspects: What are the economics of such a project?

Origin:
1785–95; see economic, -ics

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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Collins
World English Dictionary
economics (ˌiːkəˈnɒmɪks, ˌɛkə-) [Click for IPA pronunciation guide]
 
n
1.  (functioning as singular) macroeconomics See also microeconomics the social science concerned with the production and consumption of goods and services and the analysis of the commercial activities of a society
2.  (functioning as plural) financial aspects: the economics of the project are very doubtful

Collins English Dictionary - Complete & Unabridged 10th Edition
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Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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00:10
Economics is always a great word to know.
So is doohickey. Does it mean:
a gadget; dingus; thingumbob.
a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes.
Etymonline
Word Origin & History

economics
"science of wealth," 1792, from economic.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary

economics definition


The science that deals with the production, distribution, and consumption of commodities.

Note: Economics is generally understood to concern behavior that, given the scarcity of means, arises to achieve certain ends. When scarcity ceases, conventional economic theory may no longer be applicable. (See affluent society.)
Note: Economics is sometimes referred to as the “dismal science.”
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
Although the crisis has exposed bitter divisions among economists, it could
  still be good for economics.
While certainly tragic, it was far from irrational: it turns out the behavioral
  economics were stacked against them.
His technique is a variation on the traditional hide-the-ball strategy of
  political economics.
Economics, sociology, and politics are all important factors in planning for
  the future.
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