a commodity or service that can be utilized to satisfy human wants and that has exchange value.


Read Also:

  • Economic indicator

    noun 1. a statistical measure representing an economic variable: the retail price index is an economic indicator of the actual level of prices

  • Economic indicators

    Series of statistical figures, such as the consumer price index or the gross domestic product, used by economists to predict future economic activity.

  • Economic migrant

    noun 1. a person who moves from one region, place, or country to another in order to improve his or her standard of living

  • Economic-model

    noun, Economics. 1. (def 10).

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