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

Low gas prices, a strong economy, low unemployment, and rising disposable incomes are convincing more Americans than ever to hit the road, AAA says. Aarian Marshall, WIRED, "Why Bigger Roads Make Traffic Worse, and Other Summer Travel News," 4 July 2019 Since the 2007-2009 financial crisis, the country’s economy has grown for 121 months straight, according to a New York Times report. Kynala Phillips, Essence, "In 2019, Black And Brown Women Dominate The Job Force," 4 July 2019 The problem isn’t labor demand, the economy is still very strong. Dan Walters, The Mercury News, "Walters: Newsom’s housing deal is just a baby step for California," 3 July 2019 In a sign of the city’s changing economy, construction firm Bechtel and Blue Shield, the health insurer, are both moving out of 50 Beale St. Sensor maker Samsara, software firm Workday and Sony’s PlayStation video game division also expanded. Roland Li, SFChronicle.com, "SF office rents soar to fresh record amid supply crunch," 3 July 2019 The solid economy is doing little to bolster support for President Trump. BostonGlobe.com, "Trump not boosted by strong American economy, poll finds," 2 July 2019 Come learn about the economy, financial fitness and historical currency. Kaitlyn Bancroft, The Know, "Bored and broke? Here are 10 things to do around Denver for $10 or less," 2 July 2019 Some people think that when the economy is bad, and fewer people have jobs, then more people ride public transit. San Diego Union-Tribune, "Fare hikes expected to accelerate decline in bus, train riders," 1 July 2019 But by November 1984, Reagan was popular, the economy was strong and Mondale lost. Olivia B. Waxman, Time, "What the 2020 Democrats Can Learn From One of the Most Crowded Primary Fields in History," 27 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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Learn More about economy

Statistics for economy

Last Updated

8 Jul 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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