(n)the branch of social science that deals with the production and distribution and consumption of goods and services and their management, Syn.economic science, political economy
n. [ Gr. ta` o'ikonomika`, equiv. to "h o'ikonomi`a. See Economic.] 1. The science of household affairs, or of domestic management. [1913 Webster]
2. Political economy; the science of the utilities or the useful application of wealth or material resources; the study of the production, distribution, and consumption of goods and services of a nation or region, and its effect on the wealth of a country. See Political economy, under Political. “In politics and economics.” V. Knox. [1913 Webster +PJC]