careful management of resources to avoid unnecessary expenditure or waste; thrift
2.
a means or instance of this; saving
3.
sparing, restrained, or efficient use, esp to achieve the maximum effect for the minimum effort
economy of language
4.
a.
the complex of human activities concerned with the production, distribution, and consumption of goods and services
b.
a particular type or branch of such production, distribution, and consumption
a socialist economy
an agricultural economy
5.
the management of the resources, finances, income, and expenditure of a community, business enterprise, etc
6.
a.
a class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare
b.
(as modifier)
economy class
7. (modifier)
offering or purporting to offer a larger quantity for a lower price
economy pack
8.
the orderly interplay between the parts of a system or structure
the economy of nature
9. philosophy
the principle that, of two competing theories, the one with less ontological presupposition is to be preferred
10. archaic
the management of household affairs; domestic economy
Word origin
C16: via Latin from Greek oikonomia domestic management, from oikos house + -nomia, from nemein to manage
economy in American English
(ɪˈkɑnəmi; iˈkɑnəmi)
nounWord forms: pluraleˈconomies
1.
the management of the income, expenditures, etc. of a household, business, community,or government
2.
a.
careful management of wealth, resources, etc.; avoidance of waste by careful planning and use; thrift or thrifty use
b.
restrained or efficient use of one's materials, technique, etc., esp. by an artist
c.
an instance of such management or use, or a way of economizing
3.
an orderly management or arrangement of parts; organization or system
the economy of the human body
4.
a.
a system of producing, distributing, and consuming wealth
b.
the condition of such a system
a healthy economy
adjective
5.
costing less than the standard or traditional kind
an economy car, an economy flight
6.
providing more of a product at a lower unit price
an economy package
Word origin
L oeconomia < Gr oikonomia, management of a household or state, public revenue < oikonomos, manager < oikos, house (see eco-) + -nomia, -nomy
COBUILD Collocations
economy
ailing economy
digital economy
domestic economy
faltering economy
improving economy
industrial economy
local economy
national economy
overall economy
recovering economy
rural economy
vibrant economy
wreck the economy
Examples of 'economy' in a sentence
economy
Losing money may be more important in driving forward economies than making money.
Times, Sunday Times (2016)
The global economy today is not in the best shape for us to be introducing turbulence.
Times, Sunday Times (2016)
The airline denied this amounted to a basic economy class.
Times, Sunday Times (2017)
The airport has consistently argued that the British economy will benefit if the third runway is approved.
Times, Sunday Times (2016)
It's going to be a tough time for the economy.
Times, Sunday Times (2016)
Investors cannot bet against the world's largest economy without giving up on the rest of the world.
Times, Sunday Times (2016)
But the domestic economy's resilience should ensure that the manufacturing sector continues to hold up well over the next year or so.
Times, Sunday Times (2016)
The flight will carry 236 passengers with economy, premium economy and business cabins.
The Sun (2016)
Throw too much money at the economy and we risk burning our fingers by stoking inflationary pressure.
The Sun (2009)
Other businesses in an economy will also be affected.
Chambers, Ian Business Studies Basic Facts (1990)
The southern economy was much less adaptable to the needs of a total war.
Divine, Robert A. (editor) & Breen, T. H & Frederickson, George M & Williams, R. Hal America Past and Present (1995)
Those will come only as a result of a more productive and efficient economy.
Times, Sunday Times (2015)
By strengthening the existing relationship we can shape the economy of our country.
Times, Sunday Times (2006)
Iran may be the second largest economy in the region.
Times, Sunday Times (2015)
Yet the imbalances afflicting the eurozone are no less acute than those addressing the broader global economy.
Times, Sunday Times (2010)
Countries with a balance of payments surplus must expand their domestic economies instead.
Times, Sunday Times (2013)
It is understood that he returned in business class because an economy fare could not be found.
Times, Sunday Times (2013)
We are the fifth largest economy in the world.
The Sun (2016)
This allows us to put back something into the economy as well as build a sustainable business.
Times, Sunday Times (2014)
The relative importance of each of these sectors tends to change as the economy expands over time.
Pass, Christopher, Lowes, Bryan Collins Dictionary of Economics (1993)
The planned closures will really hit the local economies and the supply chain will be badly hit.
The Sun (2012)
They fear high inflation will delay moves to pump more money into the economy.
The Sun (2010)
Only by talking up the economy would business leaders feel emboldened to invest.
Times, Sunday Times (2013)
The eurozone economy rebounded less strongly than previously thought in the firstquarter.
Times, Sunday Times (2008)
This process will make both economies more technically efficient.
Miller, Roger LeRoy & Fishe, Raymond P. H. Microeconomics: Price Theory in Practice (1995)
Eight of the top ten worst performers were small cars which tend to be bought because of their fuel economy.
Times, Sunday Times (2006)
The slowing Chinese economy is lessening consumption.
Times, Sunday Times (2016)
The company also said that the difficulties facing the British economy would boost demand for its services.
Times, Sunday Times (2008)
That would slow the American economy by more than a little.
Times, Sunday Times (2006)
Over the past ten years the Nigerian economy has been growing fast.
Times, Sunday Times (2013)
Industry and the economy make up 12 per cent.
The Sun (2012)
Much easier to pronounce and carries with it the slightly queasy feeling that one naturally feels when trying to save the economy from imminent collapse.
Times, Sunday Times (2009)
Quotations
Economy is going without something you do want in case you should, some day, want something you probably won't wantAnthony HopeThe Dolly Dialogues
Everybody is always in favour of general economy and particular expenditureAnthony Eden
Take care of the pence, and the pounds will take care of themselvesWilliam Lowndes
Cut your coat according to your cloth
In other languages
economy
British English: economy /ɪˈkɒnəmɪ/ NOUN
The economy of a country or region is the system by which money, industry, and trade are organized.
He talked about the changes in the Indian economy.
American English: economy
Arabic: الاِقْتِصَاد
Brazilian Portuguese: economia
Chinese: 经济
Croatian: ekonomija
Czech: ekonomika
Danish: økonomi
Dutch: economie
European Spanish: economía
Finnish: talouselämä
French: économie nationale
German: Wirtschaft
Greek: οικονομία
Italian: economia
Japanese: 経済
Korean: 경제
Norwegian: økonomi
Polish: ekonomia
European Portuguese: economia
Romanian: economie
Russian: экономия
Latin American Spanish: economía
Swedish: ekonomi
Thai: เศรษฐกิจ
Turkish: ekonomi
Ukrainian: економіка
Vietnamese: nền kinh tế
All related terms of 'economy'
gig economy
The gig economy is a job market which consists of short-term or part-time work done by people who are self-employed or on temporary contracts .
new economy
the postindustrial world economy based on internet trading and advanced technology
black economy
The black economy consists of the buying , selling, and producing of goods or services that goes on without the government being informed , so that people can avoid paying tax on them.
cash economy
an economic system, or part of one, in which financial transactions are carried out in cash rather than via direct debit , standing order, bank transfer, or credit card
economy class
On an aeroplane, an economy class ticket or seat is the cheapest available.
economy drive
a campaign by the government or a firm to reduce expenditure and make savings
economy pack
a large pack of goods that is cheaper than a normal-sized pack
economy size
a large size of a pack of goods that is cheaper than the normal size
false economy
an attempt to save money which actually leads to greater expense
local economy
An economy is the system according to which the money, industry , and trade of a country or region are organized .
mixed economy
A mixed economy is an economic system in which some companies are owned by the state and some are not.
rural economy
An economy is the system according to which the money, industry , and trade of a country or region are organized .
siege economy
an economy in which the export of capital is limited and import controls are imposed
tiger economy
the economy of a country, esp in E Asia, that is achieving rapid economic growth
token economy
a type of psychotherapy in which the inmates of an institution are rewarded for good behaviour with tokens that can be exchanged for privileges
ailing economy
A country's economy is the wealth that it gets from business and industry.
command economy
In a command economy , business activities and the use of resources are decided by the government, and not by market forces.
digital economy
An economy is the system according to which the money, industry, and trade of a country or region are organized .
economy flight
A flight is a journey made by flying, usually in an aeroplane .
economy measure
any method of reducing expenditure and hence saving money
managed economy
an economy in which the government allocates prices of goods and resources
market economy
an economy that is based on the forces of supply and demand
overall economy
An economy is the system according to which the money, industry , and trade of a country or region are organized .
planned economy
an economy in which business activities and the allocation of resources are determined by government order rather than market forces
service economy
an economy which is dominated by the provision or importance of services (as opposed to products)
sharing economy
The sharing economy is a system in which people offer the use of their skills or things they own, using the internet .
vibrant economy
An economy is the system according to which the money, industry , and trade of a country or region are organized .
domestic economy
An economy is the system according to which the money, industry , and trade of a country or region are organized .
faltering economy
A country's economy is the wealth that it gets from business and industry.
improving economy
A country's economy is the wealth that it gets from business and industry.
industrial economy
An economy is the system according to which the money, industry , and trade of a country or region are organized .
knowledge economy
an economy in which information services are dominant as an area of growth
national economy
An economy is the system according to which the money, industry, and trade of a country or region are organized .
platform economy
an economy dominated by the use of computer systems to enable interaction between producers and consumers
political economy
Political economy is the study of the way in which a government influences or organizes a nation's wealth .
recovering economy
A country's economy is the wealth that it gets from business and industry.
a false economy
If you describe an attempt to save money as a false economy , you mean that you have not saved any money as you will have to spend a lot more later .
centralized economy
an economy in which business activities and the allocation of resources are determined by government order rather than market forces
economy of scale
a fall in average costs resulting from an increase in the scale of production
subsistence economy
an economy which produces only enough output for its own consumption and does not attempt to accumulate wealth
wreck the economy
An economy is the system according to which the money, industry, and trade of a country or region are organized .
free-market economy
an economy based on the free market system
principle of economy
→ the principle of economy
economy-class syndrome
Economy-class syndrome is a serious medical condition caused by blood clots in the legs moving up to the lungs ; used especially in connection with long-haul flights .
free-enterprise economy
an economy characterized by free enterprise
the principle of economy
a maxim , attributed to William of Ockham , stating that in explaining something assumptions must not be needlessly multiplied
Chinese translation of 'economy'
economy
(ɪˈkɔnəmɪ)
n
(c)[of country]经(經)济(濟) (jīngjì) (种(種), zhǒng)
(u) (= thrift) 节(節)约(約) (jiéyuē)
economies of scale规(規)模经(經)济(濟) (guīmó jīngji)
1 (noun)
Definition
the ability of a country to generate wealth through business and industry
central bankers from leading economies
Synonyms
financial system
financial state
2 (noun)
Definition
careful use of money or resources to save expense, time, or energy
They have achieved quite remarkable effects with great economy of means.
Synonyms
thrift
They were rightly praised for their thrift and enterprise.
saving
Use these vouchers for some great savings on holidays.
restraint
prudence
A lack of prudence may lead to financial problems.
providence
husbandry
These people consider themselves adept at financial husbandry.
retrenchment
a need for economic retrenchment
frugality
We must practise frugality and economy.
parsimony
thriftiness
sparingness
Quotations
Economy is going without something you do want in case you should, some day, want something you probably won't want [Anthony Hope – The Dolly Dialogues]Everybody is always in favour of general economy and particular expenditure [Anthony Eden]Take care of the pence, and the pounds will take care of themselves [William Lowndes]
proverb
Cut your coat according to your cloth
Additional synonyms
in the sense of frugality
We must practise frugality and economy.
Synonyms
thrift,
economy,
conservation,
moderation,
providence,
good management,
husbandry,
economizing,
carefulness,
thriftiness
in the sense of husbandry
Definition
management of resources
These people consider themselves adept at financial husbandry.
Synonyms
thrift,
economy,
good housekeeping,
frugality,
careful management
in the sense of prudence
A lack of prudence may lead to financial problems.