plural economies
1
: the process or system by which goods and services are produced, sold, and bought in a country or region
The war altered the country's economy.
An increase in tourism will help the city's economy.
We currently have a strong/weak economy. [=many/few goods and services are being produced, sold, and bought]
the Mexican economy = Mexico's economy
the world/global economy
the region's fishing/information/retail economy
People are worried about (the state of) the economy. [=their country's economy]
changes in the economy
2
: careful use of money, resources, etc.
We must learn to practice economy.
a writer known for her economy of language [=her careful use of language; her use of only the words that are most necessary]
cars with better fuel economy [=cars that use less fuel]
3
: something that makes it possible for you to spend less money
We'll also benefit from the economies provided by more efficient energy sources.
Mass production creates economies of scale. [=situations in which it costs less to produce something because you are producing a lot at one time]
Using cheap materials proved to be a false economy. [=it cost less at first but resulted in more money being spent later]
It would be false economy to repair the leak without replacing the pipe.
always used before a noun
: designed to cost less money
an economy car [=a car that costs less to buy, drive, maintain, etc.]
an economy class ticket [=the least expensive kind of airline ticket]
—often used in combinationan economy-size bottle/bag/box [=a large bottle/bag/box that you buy for less money than it would cost to get the same amount in several smaller containers]
Cite this Entry
“Economy.” Merriam-Webster.com Simple Definition, Merriam-Webster, https://www.merriam-webster.com/simple/economy. Accessed 18 Apr. 2026.
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