This word has several meanings in English, including:
* Economics: The branch of knowledge concerned with the production, consumption, and transfer of wealth.
* Management: The process of planning, organizing, leading, and controlling resources to achieve organizational goals.
* Household management: The practical aspects of running a household, including budgeting, cleaning, and cooking.
The Greek root "oikos" means "house" or "home," while "nomos" means "law" or "arrangement." So, "oikonomia" literally means "law or arrangement of the home."