economic
Adjective
Easy difficulty
What does “economic” mean?
adjective.relating to the production, distribution, and consumption of goods and services.
SAT Usage
this term often appears in passages related to finance, policy, or social sciences, emphasizing the implications of economic decisions on society and individual livelihoods. It highlights not just monetary aspects but also the broader impact on resources, employment, and quality of life, distinguishing it from terms like "financial," which focuses more narrowly on money management.
Common Confusions
Economic implies a broader impact on resources and society, while financial usually suggests a focus specifically on money management and monetary transactions.
Do not choose economic if the context emphasizes personal finance or individual wealth rather than relating to economics or the economy.
Example Sentences
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The drought had severe economic consequences for local farmers.