economy

Meaning

Adj

Cheap to run; using minimal resources; representing good value for money; economical.

Noun

1. (obsolete) Effective management of a community or system, or especially its resources.
2. (obsolete) Effective management of a community or system, or especially its resources.
3. (obsolete) Effective management of a community or system, or especially its resources.
4. (obsolete) Effective management of a community or system, or especially its resources.
5. The study of money, currency and trade, and the efficient use of resources.
6. Frugal use of resources.
7. The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
8. The method of divine government of the world. (See Economy (religion).)
9. The part of a commercial passenger airplane or train reserved for those paying the lower standard fares; economy class.
10. Management of one’s residency.

Adv

In or via the part of a commercial passenger airplane reserved for those paying the lower standard fares.

Synonyms

thrift

saving

frugality

economics

management of resources

retrenchment

finance

business

thriftiness

savings

parsimony

wealth

miserliness

frugalness

prudence

economic system

economical

curtailment

organization

contraction

shrinkage

spareness

stinginess

structure

system

cheapness

cheaper

thrifty

economic affairs

Providence

economic condition

chariness

econ

expenditures

economical efficiency

finances

efficiency

house

🏠

husbandry

income

money

💸

providence

reduction

Pronounced as (IPA)

/ɪˈkɒ.nə.mi/

Etymology

From Middle English yconomye, yconomy, borrowed via Old French [Term?] or Medieval Latin from Latin oeconomia, from Ancient Greek οἰκονομία (oikonomía, “management of a household, administration”), from οἶκος (oîkos, “house”) + νέμω (némō, “distribute, allocate”). By surface analysis, eco- + -nomy. The first recorded sense of the word economy, found in a work possibly composed in 1440, is “the management of economic affairs”, in this case, of a monastery.

Sentences

For many years , the town's economy was centered on textile manufacturing .