economy

1 of 2

noun

econ·​o·​my i-ˈkä-nə-mē 

ə-,

ē-

plural economies

1

: the structure or conditions of economic life in a country, area, or period

also : an economic system

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 (such 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

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

economy

2 of 2

adjective

: designed to save money

economy cars

Synonyms

Noun

• frugality
• husbandry
• parsimony
• penny-pinching
• providence
• scrimping
• skimping
• thrift

Examples of economy in a Sentence

Noun

The war altered the country's economy.

An increase in tourism will help the city's economy.

We must learn to practice economy.

We'll also benefit from the economies provided by more efficient energy sources.

It would be false economy to repair the leak without replacing the pipe.

Recent Examples on the Web

Noun

California’s economy grew at a healthy 3.1% rate from the end of 2022 until the end of 2023, the federal Bureau of Economic Analysis said. —David Lightman, Sacramento Bee, 4 Apr. 2024

Nevertheless, Boston is still the big economy within the region, despite what seems to be remote work’s lasting effects. —Alena Botros, Fortune, 4 Apr. 2024

In January, the U.S. economy added 353,000 jobs, which blew away most economists' expectations. —Khristopher J. Brooks, CBS News, 4 Apr. 2024

And that's because of just how dependent the global economy is on semiconductor chips produced in Taiwan. —Bobby Allyn, NPR, 3 Apr. 2024

The four cabins are divided between four seats in first class, 26 in business, 36 in premium economy, and 240 in economy. —Rachel Dube, Robb Report, 3 Apr. 2024

Amid shortages of food items and the wartime economy, the price of the shop’s famous borma fingers, cheese wrapped in phyllo dough and soaked in a sugary syrup, has jumped from $2 to $12, out of reach for most Gazans. —Ghada Abdulfattah, The Christian Science Monitor, 3 Apr. 2024

The eurozone economy didn’t grow in the last three months of 2023, and figures for the first three months of this year are due April 30. —David McHugh, Fortune Europe, 3 Apr. 2024

The trade deal led to a permanent realignment of the Canadian economy and huge increases in north-south trade. —Rob Gillies, Fortune, 23 Mar. 2024

Word History

Etymology

Noun

Middle English yconomye, borrowed from Middle French yconomie, economie, borrowed from Medieval Latin yconomia, economia, oekonomia (Late Latin, "organization of the Trinity, plan, dispensation," Latin oeconomia "arrangement of material by an author,"), borrowed from Greek oikonomía "management of a household, direction, arrangement," from oikonómos "manager of a household, steward," (from oîkos "house" + -nomos, noun derivative of némein "to have management or control of, rule, direct") + -ia -y entry 2 — more at vicinity, nimble

Adjective

from attributive use of economy entry 1

First Known Use

Noun

15th century, in the meaning defined at sense 4

Adjective

1821, in the meaning defined above

Phrases Containing economy

• command economy
• gift economy
• fuel economy
• political economy
• mixed economy
• economy of scale
• false economy
• market economy
• gig economy
• the economy
• sub-economy
• sharing economy

Kids Definition

economy

noun

econ·​o·​my

i-ˈkän-ə-mē

plural economies

1

: careful use of money and goods : thrift

2

: a special arrangement or system : organization

3

: the way an economic system (as of a country or a period in history) is arranged

Etymology

Noun

derived from Greek oikonomos "household manager," from oikos "house" and nemein "to manage"

Medical Definition

economy

noun

econ·​o·​my i-ˈkän-ə-mē 

plural economies

1

: the system of operation of the processes of anabolism and catabolism in living bodies

the economy of the cell

2

: the body of an animal or plant as an organized whole

disorganizing wide segments of the body economy

—Leonard Engel