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Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek word oikonomia, "management of a household, administration." Political economy was the earlier name for the subject, but economists in the latter 19th century suggested 'economics' as a shorter term for 'economic science' that also avoided a narrow political-interest connotation and as similar in form to 'mathematics', 'ethics', and so forth.
