Question

From which Greek word is the term ‘Economics’ derived? Write the following questions in one line.

Answer 1

Hi.......................

The English term 'Economics' is derived from the Greek word 'Oikonomia'. Its meaning is 'household management'.

Hope it helps u.

Answer 2

Economics is derived from the Greek word Oikonomia.

Explanation:

• The meaning of Oikonomia in Greek is ‘household’. Aristotle, a 'Greek Philosopher', 'termed Economics' as ‘Household management’.
• It defines the roles that should be played by the members of a house as a 'household' is the beginning of economics.
• Later Adam Smith called Economics as ‘Science of Wealth”.  
• Oikonomia, work or a treatise by Aristotle, has two books exploring the ideas of economics.