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

But simply changing the estimated size of the economy does not magically bring in more tax. The Economist, "After its 16th bail-out, Ghana hopes to put the IMF behind it," 22 June 2019 Not to mention that consumers, whose spending makes up about 70 percent of the economy, have remained resilient through all of the recovery’s recent bumps and bruises. Matt O'brien, Washington Post, "The economy has a lot more problems than just Trump’s trade war," 20 June 2019 The finance sector, which in Eisenhower’s day represented 3.7 percent of the economy, today constitutes about 8.5 percent. Win Mccormack, The New Republic, "The Green New Deal: A Capitalist Plot (Part 1)," 20 June 2019 Concerned about the strength of the global economy. Eshe Nelson, Quartz, "$12 trillion of negative-yielding bonds are sending a clear message of distress," 19 June 2019 That could lead to an economic catastrophe, damaging the stability of the United States economy and forcing the government to default on its debt. Emily Cochrane, New York Times, "House Moves Forward With Spending Bills as Congress Grapples With Looming Fiscal Deadlines," 19 June 2019 At a breakfast held Tuesday morning, it was estimated that the outdoor recreation industry generates about $887 billion per year, around 2 percent of the U.S. economy, Cedar said. Joe Rubino, The Denver Post, "Your food has labels. These entrepreneurs think your outdoor brands should, too — for the climate," 19 June 2019 An intense race to reduce emissions would sweep every corner of the U.S. economy. John Sweeney, National Review, "Could a Revenue-Neutral Carbon Tax Be the First Step to Fight Climate Change?," 19 June 2019 But where is the morality in a system where the economic gains are so narrowly shared, and giant companies with substantial market power—the heirs to the trusts—exercise dominion over great swaths of the economy? John Cassidy, The New Yorker, "Why Socialism Is Back," 18 June 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

24 Jun 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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