Basic Details
Word: Economic
Part of Speech: Adjective
Meaning: Relating to the production, distribution, and consumption of goods and services.
Synonyms: Financial, monetary, fiscal
Antonyms: Unrelated, non-financial
Idioms and Phrases
- Economic climate: The overall condition of the economy at a given time. Example: "The government is taking measures to improve the economic climate for businesses."
- Economic indicators: Statistics that provide information about economic performance. Example: "Inflation rates are key economic indicators that help us understand the country's financial health."
Usage Examples
Example 1: The government's policies can have a significant impact on the country's economic growth.
Example 2: Many people are concerned about the economic challenges faced by small businesses during the pandemic.
Example 3: She studies economic trends to predict how the market will change in the future.
Fun Fact
The word "economic" comes from the Greek word "oikonomikos," which means "skilled in household management," reflecting the historical roots of managing resources effectively.
Famous Quote
"In the field of economics, the concept of scarcity is fundamental." - Paul Samuelson
Multiple Choice Questions (MCQs)
1. What does "economic" mean?
a) Related to animals
b) Related to the production and management of goods
c) Related to sports
d) Related to health
Answer: b) Related to the production and management of goods
2. Which of these words is a synonym of "economic"?
a) Financial
b) Musical
c) Artistic
d) Historical
Answer: a) Financial
3. Which of the following is an antonym of "economic"?
a) Fiscal
b) Financial
c) Unrelated
d) Monetary
Answer: c) Unrelated
4. Which sentence uses "economic" correctly?
a) The economic team played a fantastic match.
b) His economic background helped him understand the stock market.
c) She read an economic novel about love.
d) We saw an economic movie about dinosaurs.
Answer: b) His economic background helped him understand the stock market.
5. Which idiom refers to the overall condition of the economy?
a) Economic climate
b) Economic indicators
c) Financial fog
d) Fiscal balance
Answer: a) Economic climate
