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Borrowed from Latin oeconomia , from Historic Greek οἰκονομία (oikonomía, administration of a family, administration”), from οἶκος (oîkos, home”) + νέμω (némō, distribute, allocate”) (floor analysis eco- +‎ -nomy ). The first recorded sense of the phrase economic system, present in a piece possibly composed in 1440, is the administration […]