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   economy

   /ɪˈkɒnəmi/

   noun

   • 1. the state of a country or region in terms of the production and consumption of goods and services and the supply of money: "he favours tax cuts to stimulate the economy" Similar wealth(financial) resourcesfinancial systemfinancial statefinancial management
   • ▪ a particular system or stage of an economy: "a free-market economy"
   • 2. careful management of available resources: "fuel economy" Similar thriftprovidenceprudencethriftinesscanninesscarefulnesscaregood managementgood husbandrycareful budgetingeconomizingsavingscrimping and savingscrimpingrestraintfrugalityfuel-savingabstemiousnessmeannesspenny-pinchingmiserlinessniggardlinessparsimonyforehandednessinformal:stinginessrare:sparingnessfrugalnessOpposite extravagance
   • ▪ offering good value for money: "an economy pack of soap flakes"
   • ▪ sparing or careful use of something: "a technique based on economy of effort" Similar thriftprovidenceprudencethriftinesscanninesscarefulnesscaregood managementgood husbandrycareful budgetingeconomizingsavingscrimping and savingscrimpingrestraintfrugalityfuel-savingabstemiousnessmeannesspenny-pinchingmiserlinessniggardlinessparsimonyforehandednessinformal:stinginessrare:sparingnessfrugalnessOpposite extravagance
   • ▪ a financial saving: "there were many economies to be made by giving up our London offices"
   • ▪ the cheapest class of air or rail travel: "we flew economy"

   Word Origin late 15th century (in the sense ‘management of material resources’): from French économie, or via Latin from Greek oikonomia ‘household management’, based on oikos ‘house’ + nemein ‘manage’. Current senses date from the 17th century.

   Scrabble Points: 14

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2. People also ask

   What does economy mean?

   • Words for the Summer Heat The meaning of ECONOMY is the structure or conditions of economic life in a country, area, or period; also : an economic system. How to use economy in a sentence.

   Economy Definition & Meaning - Merriam-Webster

   www.merriam-webster.com/dictionary/economy

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   What is an economy based on?

   • An economy encompasses all of the activities related to the production, consumption, and trade of goods and services in an entity, whether the entity is a nation or a small town. No two economies are identical. Each is formed according to its own resources, culture, laws, history, and geography.

   Economy: What It Is, Types of Economies, Economic Indicators - Investo…

   www.investopedia.com/terms/e/economy.asp

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   What is economy in sociology?

   • An economy[a] is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources.

   Economy - Wikipedia

   en.wikipedia.org/wiki/Economy

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   What does Economia mean?

   • economia, economia [feminine], econômico/-ca [masculine-feminine]… Need a translator? Get a quick, free translation! ECONOMY definition: 1. the system of trade and industry by which the wealth of a country is made and used: 2. the…. Learn more.

   ECONOMY | English meaning - Cambridge Dictionary

   dictionary.cambridge.org/dictionary/english/economy

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3. www.investopedia.com › terms › eEconomy: What It Is, Types of Economies, Economic Indicators

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   Aug 20, 2024 · An economy is a system of production, consumption, and exchange activities that determines how resources are allocated among participants. Learn about the different types of economies, such as market-based, command-based, and mixed, and the economic indicators that measure their performance.

   • Author: Will Kenton

   • Video Duration: 2 min

4. en.wikipedia.org › wiki › EconomyEconomy - Wikipedia

   en.wikipedia.org › wiki › Economy

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   An economy is a social domain of production, distribution and consumption of goods and services. Learn about the origin, evolution and classification of different economies from ancient to modern times.

5. dictionary.cambridge.org › dictionary › englishECONOMY | English meaning - Cambridge Dictionary

   dictionary.cambridge.org › dictionary › english

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   Learn the meaning of economy as a system of trade and industry, or as a saving of money, time, or resources. Find out how to use economy in different contexts and domains, with synonyms and collocations.

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7. www.merriam-webster.com › dictionary › economyEconomy Definition & Meaning - Merriam-Webster

   www.merriam-webster.com › dictionary › economy

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   Learn the various meanings and uses of the word economy, from the structure or conditions of economic life to the efficient use of resources. See synonyms, examples, word history, and related phrases of economy.

8. www.investopedia.com › economy-4689801Economy - Investopedia

   www.investopedia.com › economy-4689801

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   Jul 3, 2024 · Economy is the total of all activities related to the production, sale, distribution, exchange, and consumption of limited resources by a group of people. Learn about different types of economies, such as command, market, and mixed, and key terms, such as inflation, GDP, and law of supply and demand.

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9. www.britannica.com › dictionary › economyEconomy Definition & Meaning | Britannica Dictionary

   www.britannica.com › dictionary › economy

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   Learn the meaning of economy as a noun and an adjective, with examples and usage notes. Find out how economy relates to production, consumption, resources, and costs.

10. www.oxfordlearnersdictionaries.com › definitioneconomy noun - Definition, pictures, pronunciation and usage ...

    www.oxfordlearnersdictionaries.com › definition

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    Learn the meaning, pronunciation and usage of the word economy in English. Find out how to use economy as a noun to refer to the relationship between production, trade and money, or to the use of resources in a way that avoids waste.