1 / 8

Economy vs. Economics

Economy vs. Economics. Economy. from Greek oikonomia : oikos (= house) + nemein (= to manage) cf. with ecology ! Meanings: - the management of household or private affairs, especially expenses - efficient use of material and non-material resources

fulton-fernandez
Download Presentation

Economy vs. Economics

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Economy vs. Economics

  2. Economy • from Greek oikonomia : oikos (= house) + nemein (= to manage) • cf. with ecology ! • Meanings: • - the management of household or private affairs, especially expenses • - efficient use of material and non-material resources • - the arrangement or mode of operation of something (i.e. organization) • - system of interaction and exchange • - the structure or conditions of economic life in a country, area or period

  3. Economics • Meanings: • - a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services • - economic theory, principles or practices • - economic conditions • - economic aspect or significance

  4. Macroeconomics • a study of economics in terms of whole systems especially with reference to general levels of output and income and to the interrelations among sectors of the economy

  5. Microeconomics • a study of economics in terms of individual areas of activity (as a firm, household, or prices)

  6. Economic (adj.) • of or relating to economics <economic theories> • of, relating to, or based on the production, distribution, and consumption of goods and services <economic growth> • of or relating to an economy <a group of economic advisers> • profitable

  7. Economical (adj.) • marked by careful, efficient, and prudent use of resources • operating with little waste or at a saving <an economical car>

  8. Economy (adj.) • designed to save money <economy cars>

More Related