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[[Economics]] is a social science that seeks to analyze and describe the production, distribution, and consumption of wealth.[http://www.britannica.com/eb/article-9109547?query=Economics&ct=] The word "economics" is from the [[Greek language|Greek]] polytonic|οἶκος [''oikos''], "family, household, estate," and  νόμος [''nomos''], "custom, law," and hence means "household management" or "management of the state." An [[economist]] is a person using economic concepts and data in the course of employment, or someone who has earned a university [[academic degree|degree]] in the subject. The classic brief definition of economics, set out by [[Lionel Robbins]] in 1932, is "the science which studies human behavior as a relation between scarce means having alternative uses." Absent scarcity and alternative uses, there is no [[economic problem]]. Briefer yet is "the study of how people seek to satisfy needs and wants" and "the study of the financial aspects of human behaviour."

[[Economics]] is a social science that seeks to analyze and describe the production, distribution, and consumption of wealth.[http://www.britannica.com/eb/article-9109547?query=Economics&ct=] The word "economics" is from the [[Greek language|Greek]] polytonic|οἶκος [''oikos''], "family, household, estate," and  νόμος [''nomos''], "custom, law," and hence means "household management" or "management of the state." An [[economist]] is a person using economic concepts and data in the course of employment, or someone who has earned a university [[academic degree|degree]] in the subject. The classic brief definition of economics, set out by [[Lionel Robbins]] in 1932, is "the science which studies human behavior as a relation between scarce means having alternative uses." Absent scarcity and alternative uses, there is no [[economic problem]]. Briefer yet is "the study of how people seek to satisfy needs and wants" and "the study of the financial aspects of human behaviour."

[[Category: General Reference]]

[[Category: General Reference]]