Econ Lesson

May 13th, 2015
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Economics – came from the Greek words Oiko (House) and Nomos (custom, principle or law), meaning to manage the house hold. Ancient Greece did not aggregate the term on their City States, the term was just limited to the household.

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Econ LessonFar Eastern UniversityInstitute of Arts and SciencesPolitical Science Department1st Sem AT 2013 - 2014Introduction to EconomicsProf. Robert John P. GonzalesLesson 1: Economics Its Etymology Definition and NatureEtymologyEconomics came from the Greek words Oiko (House) and Nomos (custom, principle or law), meaning to manage the house hold. Ancient Greece did not aggregate the term on their City States, the term was just limited to the household. An Oiko was then used as a measurement of value of ones household then later adding the other Greek word Nomos whi

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