What is the history of Economics?

Economics is the science and study of a society's ability to produce goods and services, buy and sell them, and consume them. Documentation, theories, and discussions go back thousands of years. Who Invented Economics First?

What does economics stand for?

For other uses, see Economics (disambiguation). Economics ( / ˌɛkəˈnɒmɪks, ˌiːkə -/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.

What does economics mean in sociology?

economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of gentlemen of leisure and the vocation of a few academics; economists wrote about economic policy but were rarely consulted by legislators before decisions were made.