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Economy dictionary definition | economy defined

Definitions

 Play e·con·o·my

Use economy in a sentence

The stock markeet is a part of our economy.

The stock markeet is a part of our economy.

adjective

  1. The definition of economy is inexpensive.

    An example of economy is a low priced car that gets excellent mileage on a gallon of gas.

noun

  1. Economy is defined as the management of financial matters for a community, business or family.

    An example of economy is the stock market system in the United States.

economy

noun

pl.-·mies

  1. the management of the income, expenditures, etc. of a household, business, community, or government
    1. careful management of wealth, resources, etc.; avoidance of waste by careful planning and use; thrift or thrifty use
    2. restrained or efficient use of one’s materials, technique, etc., esp. by an artist
    3. an instance of such management or use, or a way of economizing
  2. an orderly management or arrangement of parts; organization or system: the economy of the human body
    1. a system of producing, distributing, and consuming wealth
    2. the condition of such a system: a healthy economy

Origin of economy

Classical Latinoeconomiafrom Classical Greekoikonomia, management of a household or state, public revenue fromoikonomos, manager fromoikos, house (see eco-) +-nomia, -nomy

  1. costing less than the standard or traditional kind: an economy car, an economy flight
  2. providing more of a product at a lower unit price: an economy package

economy

noun

pl.e·con·o·mies

  1. a. Careful, thrifty management of resources, such as money, materials, or labor: learned to practice economy in making out the household budget.

    b. An example or result of such management; a saving.

  2. a. The system or range of economic activity in a country, region, or community: Effects of inflation were felt at every level of the economy.

    b. A specific type of economic system: an industrial economy; a planned economy.

  3. An orderly, functional arrangement of parts; an organized system: “the sense that there is a moral economy in the world, that good is rewarded and evil is punished” ( George F. Will )
  4. Efficient, sparing, or conservative use: wrote with an economy of language.
  5. The least expensive class of accommodations, especially on a commercial conveyance, such as an airplane.
  6. Theology The method of God’s government of and activity within the world.

adjective

Economical or inexpensive to buy or use: an economy car; an economy motel.

Origin of economy

Middle Englishyconomyemanagement of a householdfromLatinoeconomiafromGreekoikonomiāfromoikonomosmanager of a householdoikoshouse; seeweik-1in Indo-European roots.nemeinto allot, manage; seenem-in Indo-European roots.Noun

(plural economies)

  1. Effective management of the resources of a community or system.
  2. Collective focus of the study of money, currency and trade, and the efficient use of resources.
  3. Frugal use of resources.
  4. The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
  5. (theology) The method of divine government of the world.
  6. (archaic) Management of one’s residency.

Related termsAdjective

(not comparable)

  1. Cheap to run; using minimal resources; representing good value for money. “He bought an economy car.” “Economy size”.

Origin

From Latin oeconomia, from Ancient Greek οἰκονομία (oikonomia, “management of a household, administration”), from οἶκος (oikos, “house”) + νόμος (nomos, “law”) (surface analysis eco- +‎ -nomy). The first recorded sense of the word economy, found in a work possibly composed in 1440, is “the management of economic affairs”, in this case, of a monastery.

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