economic illiteracy
/ɪˌlɪtəˈræsɪti/ · e·co·nom·ic il·lit·er·a·cy
noun
- A lack of understanding or knowledge about economic concepts, principles, and practices. The economic illiteracy of many citizens made it difficult for policymakers to implement effective economic reforms.
- A state of being uninformed or misinformed about economic issues, leading to poor decision-making. The economic illiteracy of some investors led to significant financial losses when they invested in a company with a poor financial track record.
Synonyms
financial ignoranceeconomic ignoranceeconomic naivetyfinancial illiteracyeconomic unawarenessfinancial unawarenesseconomic ignoranceeconomic unacquaintance
Antonyms
Did you know? The term 'economic illiteracy' highlights the importance of economic education and financial literacy in making informed decisions about personal finances and the economy.