In late nineteenth century , the term `` political economy '' was generally replaced by the term economics , used by those seeking to place the study of economy upon mathematical and axiomatic bases , rather than the structural relationships of production and consumption -LRB- cf.

In late 19th century , the term `` political economy '' was generally replaced by the term economics , which was used by those seeking to place the study of economy on a mathematical basis , rather than studying the relationships within production and consumption .
