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

These payments can be used to grow local economies and finance micro-enterprises. —Andrew Stanton, MSNBC Newsweek, 15 May 2025

When property values go up in a TIF district, the extra tax money, which would help fund services such as public schools, is instead used for things such as new buildings, infrastructure or job programs aimed at boosting the local economy. —Nell Salzman, Chicago Tribune, 15 May 2025

The price of oil, Russia’s most lucrative export and the lifeblood of its war economy, have fallen to their lowest point since the start of the invasion of Ukraine, and Putin needs the West to ease its sanctions against Russia now more than ever. —Simon Shuster, Time, 15 May 2025

The land quickly became part of Jamaica’s growing sugar economy, worked by enslaved Africans and generating profits for the Dickinson family. —Mark Littler, Forbes.com, 15 May 2025

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

Rhymes for economy

• aeronomy
• agronomy
• astronomy
• autonomy
• gastronomy
• metonymy
• taxonomy
• deuteronomy

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