10 Questions
What is the literal translation of the Greek word 'oikonomikos'?
The task of managing a household
What term did French mercantilists use to describe matters related to public administration?
Economie politique
What is the root word of the term 'economics'?
Oikonomikos
What does the term 'oikonomia' literally translate to?
The task of managing a household
In the context of economics, what is the origin of the term 'economie politique'?
French mercantilists
What is the primary focus of economics?
The examination of economic activities
What is an economic activity?
Any activity that is related to earning or spending money
Which of the following is an example of an economic activity?
Buying a new pair of shoes
What is the scope of economics?
Includes all economic activities of individuals and societies
What is the main concern of economics in relation to human activities?
Their relationship to money
Study Notes
Origins of Economics
- The term "economics" comes from the ancient Greek word "oikonomikos" or "oikonomia", which translates to "the task of managing a household".
- The French mercantilists used the term "economie politique" or "political economy" to refer to matters related to public administration.
Definition of Economics
- Economics is a social science that studies economic activities of individuals.
- Economic activities involve earning and spending money.
- Any activity related to earning or spending money is considered an economic activity.
Discover the roots of economics, from the ancient Greek word 'oikonomikos' to the French term 'economie politique'. Learn about the evolution of the concept of economics and its relation to public administration. Test your knowledge and understanding of the history of economics.
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