First of all, from a linguistic point of view, the word “economy” derives from the Greek οἴκος (oikos), which means “house” and νόμος (nomos), which is “managing”.
What does oikos mean in economics?
Nearly every economist has at some point in the standard coursework been exposed to a brief explanation that the origin of the word “economy” can be traced back to the Greek word oikonomia, which in turn is composed of two words: oikos, which is usually translated as “household”; and nemein, which is best translated as …
What is the Greek word of economy?
The word ‘economics’ comes from two Greek words, ‘eco’ meaning home and ‘nomos’ meaning accounts. The subject has developed from being about how to keep the family accounts into the wide-ranging subject of today.
What word comes from oikos and ology?
Oikos means “habitation” and -ology means “the study of.” So ecology started off as the study of where things live. More and more, though, the word is used interchangeably with environment.
What is the meaning of Greek word oikos?
Most of us are familiar with the prefix “ecos.” It conjures up images of Earth, and forms the basis of words such as ecology, economics and ecosystem — which all share the same Greek root, ecos, derived from “oikos,” meaning “house or household.”
What is the meaning of the word oikos and Polis?
Aristotle saw the household – in his vocabulary the oikos, or sometimes. the oikia – as the basic social unit of the polis.2 He defines the primary. relationships within the household as: master and slave, husband and. wife, father and child.
What is the meaning of Nomos?
nomos, (Greek: “law,” or “custom”, ) plural Nomoi, in law, the concept of law in ancient Greek philosophy. The problems of political authority and the rights and obligations of citizens were a major concern in the thought of the leading Greek Sophists of the late 5th and early 4th centuries bc.
What do you mean by the word economics?
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. … The building blocks of economics are the studies of labor and trade.
What you mean by economics?
Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
What does ecological stand for?
: of or relating to the science of ecology or the patterns of relationships between living things and their environment There was no ecological damage.
Is ecologies a word?
Plural form of ecology.
What are oikos used for?
An oikos is the ancient Greek equivalent of a household, house, or family. An oikos was the basic unit of society in most Greek city-states, and included the head of the oikos, his immediate family, and slaves living together in one domestic setting.
What is an oikos as it was discussed in lecture?
‘Oikos’ is a Greek word which means house/household introduced by Aristotle when he introduced the theory of household management.
What is the meaning of oikos and logos?
Derived from Greek oikos = house, logos = study, literally = study of our home Ecology = study of organisms and their interactions with each other and with their environment. Population- group of individuals of the same species that interact and interbreed with each other.