noun pl. economies -·mies

1. the management of the income, expenditures, etc. of a household, business, community, or government
2. 1. careful management of wealth, resources, etc.; avoidance of waste by careful planning and use; thrift or thrifty use
   2. restrained or efficient use of one's materials, technique, etc., esp. by an artist
   3. 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. 1. a system of producing, distributing, and consuming wealth
   2. the condition of such a system a healthy economy

Etymology: L oeconomia < Gr oikonomia, management of a household or state, public revenue < oikonomos, manager < oikos, house (see eco-) + -nomia, -nomy

adjective

1. costing less than the standard or traditional kind an economy car, an economy flight
2. providing more of a product at a lower unit price an economy package