BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Latin Word
|
|
|
Greek Word
|
|
|
Russian Word
|
|
|
Indian Word
|
Detailed explanation-1: -The word ‘economics’ is derived from two Greek words, ‘eco’ meaning home and ‘nomos’ meaning account, which refers to household management.
Detailed explanation-2: -The English term ‘Economics’ is derived from the Greek word ‘Oikonomia’. Its meaning is ‘household management’. Economics was first read in ancient Greece. Aristotle, the Greek Philosopher termed Economics as a science of ‘household management’.
Detailed explanation-3: -Oikonomos (Greek: , from -‘house’ and- ‘rule, law’), latinized œconomus, oeconomus, or economos, was an Ancient Greek word meaning “household manager.” In Byzantine times, the term was used as a title of a manager or treasurer of an organization.
Detailed explanation-4: -The word “economics” comes from the Greek word “Oikonomia” meaning “management of a household”. Hence, in its original sense the meaning of a strong economy is essentially one where a household is well managed.