Author: ecodictionary

Economics Dictionary is an online blog website that provide A detailed study of various aspects of economics. Know more about the terms, theories, history, and current scenario of economics in the simplest language. Our goal is to provide you with a wide range of resources to help you understand Economics better. Our site is divided into different sections depending on their particular topic. We hope that this will be helpful for you and your students! Economics Dictionary - Definition Economics is the social science which deals with the production, distribution, and consumption of goods and services. The two main topics covered by economics are microeconomics and macroeconomics which focuses on how an economy works at the level of individual firms or households. The word "economics" means "household management" in Greek language. In modern times, it has come to mean something quite different as well as having multiple interpretations depending on who you ask!