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

The dollar rose Tuesday, buoyed by gains against the Australian dollar after the Reserve Bank of Australia left interest rates unchanged but expressed a cautious outlook on the Australian economy. Sam Goldfarb, WSJ, "Pound Strengthens on Australia Warning," 2 Apr. 2019 The federal government shut down for nearly three weeks back in 2013, as Republicans tried to force Obama to defund his own health care law — a shutdown that took a real material toll on the economy. Dylan Scott, Vox, "Why the blame game over the government shutdown is pointless," 21 Dec. 2018 The report focuses on the devastating impact climate change will have on the U.S. economy in the coming decades. Avery Thompson, Popular Mechanics, "Climate Change Could Cost The United States Economy Hundreds of Billions Annually," 26 Nov. 2018 PRoD's most compelling impact is in showing us exactly what could play out, for fans and creators alike, if the online economy falls headlong into a complicated tangle of content, money, popularity, and sense of inclusion. Sam Machkovech And Nathan Mattise, Ars Technica, "Films for the discerning nerd: Ars picks the best of 2018," 27 Dec. 2018 The overall strength of the economy remains strong, despite the recent stock market selloff. Jeff Andrews, Curbed, "Housing market signaled potential future downturn in 2018," 21 Dec. 2018 The country is staring down the first sales drop in almost 30 years, in part because of the trade war, but also because China’s economy is finally cooling off after decades of intense growth. Sean O'kane, The Verge, "Tesla drops prices in China after the government suspends tariffs," 14 Dec. 2018 California has the fifth-largest economy in the world and the highest poverty rate in the nation, and is 41st in the nation in per-pupil spending, according to NBC News. Jenn M. Jackson, Teen Vogue, "Access to Education for Black Children Proves Difficult for Their Parents, Creating a Disadvantage," 13 Mar. 2019 Arguably the biggest player in Kendall Square, and the source of much of the talent that drives the area’s innovation economy, MIT has invested significant resources in solving some of these infrastructural challenges. Patrick Sisson, Curbed, "As top innovation hub expands, can straining local infrastructure keep pace?," 6 Nov. 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

15 Apr 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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