E′co‐nom″ics (ē′kŏ‐nŏm″ĭks), n. [Gr. τά οικονομικἄ, equiv. to ἡ οικονομἴα. 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. See Political economy, under Political. “In politics and economics.” V. Knox.