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

The New York Times The ‘stingy economy’ China’s Gen Z consumers are looking to save money amid a slower economy and stubbornly high youth unemployment. —Alan Murray, Fortune, 16 Apr. 2024

Yet other statistics released on Tuesday were less than encouraging, implying that China’s economy still faces serious headwinds. —Lionel Lim, Fortune Asia, 16 Apr. 2024

What to expect Eyesores or symbols of a thriving economy: Are Phoenix construction cranes going anywhere? —Nick Sullivan, The Arizona Republic, 16 Apr. 2024

These flying mammals play a vital role in Indiana’s ecosystem and even its economy. —Karl Schneider, The Indianapolis Star, 16 Apr. 2024

The good: Energy burden, measured as the percentage of income households pay for electric and gas service, fell slightly in the past three years as the post-pandemic economy improved and household incomes rose, according to a new study by the Sierra Club - Wisconsin Chapter. —Karl Ebert, Journal Sentinel, 16 Apr. 2024

In addition, a more vibrant economy in Venezuela could convince migrants — who have been leaving for the U.S. in record numbers — to stay put in Venezuela. —John Otis, NPR, 16 Apr. 2024

The result is an agreement that state leaders hope could make housing in New York less scarce and more affordable, stemming the exodus of families and people of limited means, and put the city and state economies on a more secure path. —Mihir Zaveri, New York Times, 15 Apr. 2024

The booming economy is exacerbating a key vulnerability for President Biden heading into the height of campaign season, as inflation and interest rates could remain higher until deep into the final weeks of the presidential election. —Tyler Pager, Washington Post, 13 Apr. 2024

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

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