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By | November 2012
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Economics-  is the social science that analyzes the production, distribution, and consumption of goods and services. The term economicscomes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος(nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the late 19th century suggested 'economics' as a shorter term for 'economic science' that also avoided a narrow political-interest connotation and as similar in form to 'mathematics', 'ethics', and so forth.

* Economics ang karunungang panlipunan na pinag-aaralan ang produksyon, pamamahagi, at pagkonsumo ng mga kalakal at serbisyo. Ang terminong economics ay mula sa Sinaunang Griyego.  product - is defined as a "thing produced by labor or effort"[1] or the "result of an act or a process". In marketing, a product is anything that can be offered to a market that might satisfy a want or need * produkto ay tinukoy bilang isang "bagay na ginawa sa pamamagitan ng paggawa o pagsisikap" o "resulta ng isang gawa o proseso". Sa marketing, ang isang produkto ay anumang bagay na maaaring inaalok sa isang merkado na maaaring masiyahan ang isang gusto o kailangan. service  - is an intangible commodity. More specifically, services are an intangible equivalent of economic goods.

service is a set of one time consumable and perishable benefits.

Consumption is a common concept in economics and many other social sciences, and gives rise to derived concepts such as consumer debt

* Consumption ay isang pangkaraniwang konsepto sa economics at maraming iba pang mga social agham, at nagbibigay ng pagtaas sa nagmula mga konseptong tulad ng consumer utang.

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