Top Definition
The allocation of scarce resources that have alternative uses.
Everyone should have a basic understanding of economics to be an educated citizen
додав Thomas Sowell 06 Липня 2005
The study of choice in the face of scarcity.
Ignorant people who post idiotic definitions have scarce resources.
додав Adam Smith 25 Квітня 2005
Economics is a social science, that is concerned with meeting 'unlimited demands with only scarce resources'. Economics relies on the assumption that everyone wants more and more money, goods and services = we are all a bunch of greedy mo' fo's. Hence the concept is accurate, and will continue to be taught in colleges everwhere for years to come. Noteable masters include the venerable Daddy G, of Peterborough fame.
A: how much are these bananas?
B: £2
A: Fine, I buy them off that illegal immigrant for £1.50

Hence the laws of Supply and Demand are and the concept of economics is satisfied.
#money #greed #economies of scale #economy #politics
додав Whittlesey Warrior 27 Травня 2006
The study of fufilling ones unlimited wants using the Earth's limited resources.
"It's pure economics! Since our resource of TV writers is scarce, we're stuck with crappy reality shows!"
додав Xopher 20 Квітня 2005
Economics is the ethics of mixing resources with strangers.
There are many disagreements about what Economics thinks is fair.
#food #water #shelter #love #currency
додав insub2 19 Січня 2013
a "science" created by a group of middle-aged, bearded men called "economists" to ensure that anything they say can never be proven wrong
Steve: Dude, you really f'd up on that predication!
Economist: Well if one looks at it from a non-inflationary enviorment, disregarding the laffer curve, then my hypothesis was in fact correct. Its Economics 101
#money #fiscal policy #monetary policy #economist #ben bernake
додав TheBigN2727 19 Жовтня 2009
Economics is about creating good outcomes for human beings.

Economics isn't meant to explain everything, but it is good for establishing parameters, distinguishing relationships, identifying issues, clarifying options and providing an analytical framework.
Economics can establish criteria by which governmental decisions can be made.
#adam smith #milton friedman #john maynard keynes #accounting #economy
додав Leelo Dallas Multipass 12 Листопада 2005
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