Definition of "economics"

economics

/ˌikəˈnɑmɪks/

noun
uncountable
1. (social sciences) The study of resource allocation, distribution and consumption; of capital and investment; and of management of the factors of production.
  Quotations
  Economics is a messy discipline: too fluid to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too.
  2013 August 3, “Boundary problems”, in The Economist, volume 408, number 8847