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Economics
(redirected from economic science)

   Also found in: Dictionary/thesaurus, Medical, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
Economics
The study of how people use their limited resources in an attempt to satisfy unlimited wants.

Notes:
Economics is often referred to as the Dismal Science.


Economics

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About 40 years ago Gary Becker, who won the Nobel Prize in Economic Science in 1992, popularized the idea of human capital.
In discussing the question of scientific support for military-financial policy, we unwittingly touch upon wider problems of military-economic, military and economic science and policy, because here we cannot do without a systems approach either.
Milton Friedman, Senior Research Fellow, Hoover Institution, and recipient, 1976 Nobel Memorial Prize for Economic Science
 
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