SSC
GENERAL ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The word economy comes from the Greek word for
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“environment.”
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“one who manages a household.”
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“one who participates in a market.”
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“conservation.”
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Explanation:
Detailed explanation-1: -The term economics is derived from the Greek word ‘oikonomos’ meaning the management of household.
Detailed explanation-2: -Our ‘economy’ is derived from the ancient Greek word oikonomia, but this meant originally and usually the management of a private household (oikos) rather than that of a ‘national’ economy (see household, greek).
Detailed explanation-3: -The oikos (household) was the base unit for the organization of social, political, and economic life in the Ancient Greek world. The person in charge of all its affairs was the oikonomos. The oikos was composed of a nuclear family as well as extended family members such as grandparents or unmarried female relatives.
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