/ˌekəˈnämiks,ˌēkəˈnämiks/
a social science concerned with the production, distribution, and consumption of goods and services
Definition
Eco
Nomics
oîkos, "house"
némō, "a system of rules, laws, or knowledge"
Etymology
Oikonomía, to me, is the study of the "rules of the house."
The "house" being the world;
The "rules" being economic principles.
One thing you already know is that the house always wins.
Graphs like these help economists answer these questions:
