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economy definition

econo·my (i kän′ə mē, ē-)

noun pl. economies -·mies

  1. the management of the income, expenditures, etc. of a household, business, community, or government
    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
    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

Webster's New World College Dictionary Copyright © 2005 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

economy Synonyms

economy

n.

  1. A system of producing, distributing, and consuming wealth

    economic system, marketplace, market, gross national product, GNP, standard of living, cost of living, consumer price index, per capita income, financial resources, earnings, prosperity; see also administration 1, economics.

  2. Thrifty administration

    thriftiness, thrift, retrenchment, austerity, caution, prudence, regulation of finances, conservation, prudent use of resources, political economy, saving, economizing, stinginess, frugality, husbandry, care, providence, parsimony, restraint, miserliness, scrimping, cheeseparing*.

    Antonyms carelessness*, lavishness*, waste. *

  3. An example of economy, sense 2

    curtailment, retrenchment, cutback, rollback, austerity program, business recession, reduction in spending, deduction, saving, abridgment, layoff, payroll shrinkage, reduction of forces, wage decrease, cut in wages, volume ordering, cost-effectiveness, economies of scale, moratorium, good gas mileage, good fuel consumption, excursion fare, lowered materials cost, lowered contract price; belt-tightening*; see also automation, depression 3.

    Antonyms increase*, outlay*, raise.


Webster's New World Roget's A-Z Thesaurus Copyright © 1999 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

economy Usage Examples

Preposition: into

  • recession: Lisbon is considering " Draconian " cuts that risk driving the debt-laden economy into deep recession.

Converse of object

  • boost: Nor are they using these assets to spend and boost the economy.

Adjective modifier

  • global: The Dangers Ahead Our global economy is becoming more dependent on the Internet.

Noun used with modifier

  • night-time: It will be complemented by 12 casual dining restaurants all of which will significantly boost the night-time economy of the city center.
economy usage examples (more)

The word usage examples above have been gathered from various sources to reflect current and historical usage. They do not represent the opinions of YourDictionary.com.

economy quotes

The economy, stupid!

-Anonymous

Perhaps the most important principle on which the economy of a manufacture depends, is the division of labour amongst the persons who perform the work.

-Babbage, Charles

Political economy tracesinanabstract way theeffects of the desire to be rich; and nations must nowadays abound in that passion if theyare to have much poweror respect in the world.

-Bagehot,Walter

economy quotes (more)

Webster's New World Dictionary of Quotations Copyright © 2005 by Chambers Harrap Publishers Ltd. All rights reserved. Published by Wiley, Hoboken, NJ. Used by arrangement with John Wiley & Sons, Inc.

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"economy." Webster's New World College Dictionary. 2009

  • Your Dictionary. 5 July 2009
  • <www.yourdictionary.com/economy>

APA Style

economy. (2009). In Webster's New World College Dictionary

  • Retrieved July 5th, 2009, from www.yourdictionary.com/economy

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