Economics \E`co*nom"ics\, n. [Gr. ?, equiv. to ? ?. See Economic.]

1. The science of household affairs, or of domestic management.

2. Political economy; the science of the utilities or the useful application of wealth or material resources. See Political economy, under Political. ``In politics and economics.'' --V. Knox.

Source: Webster's Revised Unabridged Dictionary (1913)