Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek ο?κονομ?α (oikonomia, "management of a household, administration") from ο?κος (oikos, "house") + ν?μος (nomos, "custom" or "law"), hence "rules of the house(hold)".Current economic models emerged from the broader field of political economy in the late 19th century. A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin to the physical sciences.

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