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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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 Sri Lanka’s economy has slowed in recent years, and tensions between Mr. Sirisena, who comes from a working-class family, and Mr. Wickremesinghe, a lawyer born into Sri Lanka’s elite, have grown. Bill Spindle, WSJ, "Sri Lanka’s Crisis of Too Many Prime Ministers Barrels Toward a Climax," 4 Dec. 2018 For years, China's dominance in rare-earth has been concerning for countries like Japan and the US, whose economies depend on products that depend on rare-earths. Megan Geuss, Ars Technica, "Tariffs on Chinese rare-earth minerals create a sticky problem for US competitors," 30 Nov. 2018 The sale is valid for economy travel between January 13 and March 28, 2019. Bridget Hallinan, Condé Nast Traveler, "The Best Cyber Monday Flight Deals of 2018," 26 Nov. 2018 Whatever the impact of Foxconn on Wisconsin’s economy, there is no doubt about the bill to be paid. Bruce Murphy, The Verge, "Wisconsin’s $4.1 billion Foxconn boondoggle," 29 Oct. 2018 Enyia also believes that progress starts with rebuilding the city's economy. Alexis Jones, Marie Claire, "Meet Amara Enyia, the Chicago Mayor Candidate People Can't Stop Talking About," 24 Oct. 2018 The Pearl River Delta supports a gargantuan economy, earning the distinction of world's largest megacity in 2015. Sam Blum, Popular Mechanics, "China Opens Gargantuan 34-Mile Mega Bridge," 23 Oct. 2018 As the title implies, this one focuses on the economy. Hayden Dingman, PCWorld, "This week in games: Alan Wake is back on sale after a 17 month absence, Layers of Fear 2 announced," 26 Oct. 2018 TerraCycle founder Tom Szaky will speak on circular economy and the realities of recycling. The Good Housekeeping Institute, Good Housekeeping, "Here's everything you need to know about the 2018 Raise the Green Bar Sustainability Summit.," 16 Oct. 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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Learn More about economy

Statistics for economy

Last Updated

9 Dec 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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