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Definition of Economics

Economics

  1. The science of household affairs, or of domestic management.
  2. Political economy; the science of the utilities or the useful application of wealth or material resources. See Political economy, under Political.

Economics Quotations

It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics, because discrimination, poverty and ignorance restrict growth, while investments in education, infrastructure and scientific and technological research increase it, creating more good jobs and new wealth for all of us.
William J. Clinton

It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like Homer Simpson than Superman. So from this perspective it is rather depressing. But at the same time there is also a silver lining. There are free lunches!
Dan Ariely

Human well-being is not a random phenomenon. It depends on many factors - ranging from genetics and neurobiology to sociology and economics. But, clearly, there are scientific truths to be known about how we can flourish in this world. Wherever we can have an impact on the well-being of others, questions of morality apply.
Sam Harris

Geography has made us neighbors. History has made us friends. Economics has made us partners, and necessity has made us allies. Those whom God has so joined together, let no man put asunder.
John F. Kennedy

The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.
Thomas Sowell
More "Economics" Quotations

Economics Translations

economics in Dutch is economie
economics in German is Wirtschaftlichkeiten, Volkswirtschaftslehre
economics in Portuguese is economia
economics in Swedish is nationalekonomi
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