A cheap brand of cleaner that works really well and provides good value is an example of something that might be described as economical.
A person who is careful with his money and who doesn't spend foolishly is an example of someone who is economical.
An economical heating system; an economical approach to control of corporate growth.
An economical writing style; threw an economical 12 pitches in the first inning.
An economical person, an economical stove.
An economical style.