E`co*nom"ics(`k*nm"ks), n. [Gr. ta` o'ikonomika`, equiv. to "h o'ikonomi`a. See Economic.] 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; the study of the production, distribution, and consumption of goods and services of a nation or region, and its effect on the wealth of a country. See
Political economy, under Political. "In politics and economics."
[1913 Webster +PJC]
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