economy

noun
econ·​o·​my | \i-ˈkä-nə-mē, ə-, ē-\
plural economies

Definition of economy 

(Entry 1 of 2)

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

2a : 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)

3a : 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

adjective

Definition of economy (Entry 2 of 2)

: designed to save money economy cars

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Synonyms & Antonyms for economy

Synonyms: Noun

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

Antonyms: Noun

wastefulness

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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.
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Recent Examples on the Web: Noun

However, quantum mechanics paved the way for today’s economy with its dependence on computer chips. Mark Johnson, Milwaukee Journal Sentinel, "Blazing a trail: UW professor's dream leads to breakthrough in identifying origin of cosmic rays," 12 July 2018 All of this would be excellent news for the economy, but also for those workers who were stung by the recent tax reform’s limit on state and local deductions but might now see some alternate tax relief. Kimberley A. Strassel, WSJ, "Trump Alone Can Cut Taxes," 12 July 2018 In January, in anticipation of the 2018 Final Four, Nirenberg said at a media event that the tournament is a boon for the local economy with a $135 million economic impact. Josh Baugh, San Antonio Express-News, "San Antonio delegation seeks a return of the NCAA’s Final Four tournament," 11 July 2018 And while the latest round of tax cuts is supposed to boost the economy, that’s not guaranteed to happen. Emily Stewart, Vox, "America’s getting $10 trillion in tax cuts, and 20% of them are going the richest 1%," 11 July 2018 The last time a trade war happened in the U.S., things didn't go well for the economy. Paul Davidson, USA TODAY, "U.S. trade war with China, other countries: Layoffs, reduced hours, thinner profits," 6 July 2018 The center will focus on preparing the city and its business for the future economy by using data collection and analysis to improve their efficiency. Post-Tribune, "State briefs," 3 July 2018 Image Their arrival provides a welcome fillip for the British economy that’s expected to be bruised by its departure from the European Union. New York Times, "Silicon Valley’s Giants Take Their Talent Hunt to Cambridge," 3 July 2018 Today, the monument is the most popular National Park Service site in New Mexico, drawing more than half a million annual visitors and generating $29.3 million for the local economy, according to Heinrich’s office. Hayden Carpenter, Outside Online, "Our Next National Park Could Be in New Mexico," 3 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'economy.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of economy

Noun

15th century, in the meaning defined at sense 4

Adjective

1821, in the meaning defined above

History and Etymology for economy

Noun

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

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Statistics for economy

Last Updated

11 Nov 2018

Look-up Popularity

Time Traveler for economy

The first known use of economy was in the 15th century

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More Definitions for economy

economy

noun

Financial Definition of economy

What It Is

In its broadest sense, the economy is the organized system of human activity involved in the production, consumption, exchange, and distribution of goods and services.

How It Works

Derived from the Greek word oikonomos, meaning "one who manages a household," economy was not used in the modern sense of the economic system of a country or area until the nineteenth and twentieth centuries.

Economy also refers to the way in which resources, especially those in shortage, are managed in a competent and appropriate manner.

For example, the Industrial Revolution of the nineteenth century can probably be considered as the first time in history that goods and services were mass produced for wider consumption.

Why It Matters

Economy is important not only because of its implications for human production and activity, but also because it has engendered one of the most studied of all disciplines: economics.

Source: Investing Answers

economy

noun

English Language Learners Definition of economy

 (Entry 1 of 2)

: the process or system by which goods and services are produced, sold, and bought in a country or region

: careful use of money, resources, etc.

: something that makes it possible for you to spend less money

economy

adjective

English Language Learners Definition of economy (Entry 2 of 2)

: designed to cost less money

economy

noun
econ·​o·​my | \i-ˈkä-nə-mē \
plural economies

Kids Definition of economy

1 : the way in which goods and services are made, sold, and used in a country or area the city's economy

2 : the careful use of money and goods : thrift With economy and restraint, they managed to live on their small income.

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economy

noun
econ·​o·​my | \i-ˈkän-ə-mē \
plural economies

Medical Definition of economy 

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

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Comments on economy

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