History of economic thought

Economics is the social science that studies the production, distribution, and consumption of goods and services. The word 'economics' is from the Greek for οἶκος (oikos: house) and νόμος (nomos: custom or law), hence "rules of the house(hold)."

Origin of Economics take its roots in the natural propensity of human beings to barter, to exchange or trade goods. Whilst there are no records of dogs ever having bartered bones, men has been bartering since pre-history.

Economics as a political science and as we understand the word today, begins with the work of Adam Smith, The Wealth of teh Nations. .