Definition of ECONOMY

economy

Meanings

Plural: economies

Noun

  • the system of production and distribution and consumption
  • the efficient use of resources
    • "economy of effort"
  • frugality in the expenditure of money or resources
    • "the Scots are famous for their economy"
  • an act of economizing; reduction in cost
    • "it was a small economy to walk to work every day"
  • Effective management of a community or system, or especially its resources.
  • The regular operation of nature in the generation, nutrition and preservation of animals or plants.
  • Effective management of a community or system, or especially its resources.
  • System of management; general regulation and disposition of the affairs of a state or nation, or of any department of government.
  • Effective management of a community or system, or especially its resources.
  • A system of rules, regulations, rites and ceremonies.
  • Effective management of a community or system, or especially its resources.
  • The disposition or arrangement of any work.
  • The study of money, currency and trade, and the efficient use of resources.
  • Frugal use of resources.
  • The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
  • The method of divine government of the world. (See Economy (religion) on Wikipedia.Wikipedia.)
  • The part of a commercial passenger airplane or train reserved for those paying the lower standard fares; economy class.
  • Management of one’s residency.

Adj

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

Adv

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

Origin / 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.

Synonyms

economic system, saving, thriftiness

Scrabble Score: 14

economy is a valid Scrabble (US) TWL word
economy is a valid Scrabble Word in Merriam-Webster MW Dictionary
economy is a valid Scrabble Word in International Collins CSW Dictionary

Words With Friends Score: 16

economy is a valid Words With Friends word