economy

noun
econ·​o·​my | \ i-ˈkä-nə-mē How to pronounce economy (audio) , 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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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

Get our daily newsletter The toll of tariffs on China’s economy is becoming more visible. The Economist, "China is calm as growth slows. But is it complacent?," 31 Aug. 2019 Springs dried up, fishponds filled in with mud washed down from the uplands, reefs were likewise smothered, and communities were forced to retreat or breakup, their members scattered to work in the wage economy elsewhere. Wade Graham, Smithsonian, "Why Molokai, With All Its Wonders, Is the Least Developed of Hawai’i’s Islands," 31 Aug. 2019 West added that Uber is also pushing for sectoral bargaining, a framework advocated by labor groups, where workers in the gig economy could bargain as a unit without unionization of a company. Faiz Siddiqui, Washington Post, "Uber and Lyft are floating a $21 minimum wage. Critics say it’s closer to $15.," 31 Aug. 2019 That could have a major impact on the US economy, according to new research from Morgan Stanley. Julia Horowitz, CNN, "August was a month to forget for investors. September may be little better," 30 Aug. 2019 The anticipated job growth in Cincinnati is a good microcosm of what’s driving voter opinion on the economy. cleveland.com, "Attorneys are optimistic for opioid settlements in Midwest lawsuits: The Flyover," 29 Aug. 2019 As the world’s reserve currency, the greenback holds outsize importance in the international economy, often serving as a unit of account when settling trades and playing a critical role in global stock markets. Matthew De Silva, Quartz, "Why does the Bank of England want a global digital currency?," 29 Aug. 2019 Multiple reports have found that leaving the EU without an exit plan in place could wreak havoc on the British economy. Chelsey Sanchez, Harper's BAZAAR, "The Queen Approves a Suspension of Parliament amid Brexit Controversy," 29 Aug. 2019 In the longer term, economists have predicted such a split could tip Britain into a deep recession and put a powerful drag on the global economy. Christina Boyle, Los Angeles Times, "Suspending Parliament to boost Brexit, Britain’s Boris Johnson sparks outrage," 28 Aug. 2019

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

2 Sep 2019

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 How to pronounce economy (audio) \
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 How to pronounce economy (audio) \
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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