economy

¹econ·o·my

noun \i-ˈkä-nə-mē, ə-, ē-\

plural econ·o·mies

Definition of ECONOMY

1

archaic : the management of household or private affairs and especially expenses

2

a : thrifty and efficient use of material resources : frugality in expenditures; also : an instance or a means of economizing : saving b : efficient and concise use of nonmaterial resources (as effort, language, or motion)

3

a : the arrangement or mode of operation of something : organization b : a system especially of interaction and exchange <an economy of information>

4

: the structure or conditions of economic life in a country, area, or period; also : an economic system

Examples of ECONOMY

1. The war altered the country's economy.
2. An increase in tourism will help the city's economy.
3. We must learn to practice economy.
4. We'll also benefit from the economies provided by more efficient energy sources.
5. It would be false economy to repair the leak without replacing the pipe.

Origin of ECONOMY

Middle French yconomie, from Medieval Latin oeconomia, from Greek oikonomia, from oikonomos household manager, from oikos house + nemein to manage — more at vicinity, nimble

First Known Use: 15th century

Related to ECONOMY

Synonyms: frugality, husbandry, parsimony, penny-pinching, providence, scrimping, skimping, thrift

Antonyms: diseconomy, wastefulness

Related Words: conservation, saving; miserliness, niggardliness, stinginess; belt-tightening, retrenchment; discretion, forehandedness, prudence; austerity, moderation, restraint, temperance

Near Antonyms: extravagance, improvidence, lavishness, prodigality, squandering

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Rhymes with ECONOMY

agronomy, antonymy, astronomy, autonomy, eponymy, gastronomy, metonymy, synonymy, taphonomy, taxonomy, toponymy