economy, economic system(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"; "there was a saving of 50 cents"
Effective management of the resources of a community or system.
Collective focus of 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.
Management of oneu2019s residency.
Cheap to run; using minimal resources; representing good value for money.
Origin: From oeconomia, from οἰκονομία, from οἶκος + νόμος (surface analysis ). 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.
the management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy
orderly arrangement and management of the internal affairs of a state or of any establishment kept up by production and consumption; esp., such management as directly concerns wealth; as, political economy
the system of rules and regulations by which anything is managed; orderly system of regulating the distribution and uses of parts, conceived as the result of wise and economical adaptation in the author, whether human or divine; as, the animal or vegetable economy; the economy of a poem; the Jewish economy
thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony
An economy consists of the economic system in a certain region, comprising the production, distribution or trade, and consumption of goods and services in that region or country. An economy is the total aggregate sum of all transactions of value between two agents, such as one individual to one other individual, or between groups of individual activity, such as in organizations to other organizations, and between one nation and another nation. Transactions only occur when both parties agree to the value, commonly expressed in some currency, or price. Then and only then is the sale of good or service acted on in the transaction. An economy represents the diverse activity of all agents engaged in the production of valuable goods and services for other agents in the economy. In the past, economic activity was theorized to be bounded by natural resources, labor, and capital. This view ignores the value of technology, and creativity, especially that which produces intellectual property.
Chambers 20th Century Dictionary
ek-on′o-mi, n. the management of a household or of money matters: a frugal and judicious expenditure of money: a system of rules or ceremonies: a dispensation, as 'the Christian economy:' regular operations, as of nature.—adjs. Econom′ic, -al, pertaining to economy: frugal: careful.—adv. Econom′ically.—ns. Econom′ics, the science of household management: political economy; Economisā′tion, act of economising.—v.i. Econ′omise, to manage with economy: to spend money carefully: to save.—v.t. to use prudently: to spend with frugality.—ns. Economī′ser, Econ′omist, one who is economical: one who studies political economy.—Political economy (see under Politic). [L. œconomia—Gr. oikonomia—oikos, a house, nomos, a law.]
The Nuttall Encyclopedia
"the right arrangement of things," and distinct from Frugality, which is "the careful and fitting use of things."
The Foolish Dictionary, by Gideon Wurdz
Denying ourselves a necessary to-day in order to buy a luxury to-morrow.
British National Corpus
Spoken Corpus Frequency
Rank popularity for the word 'economy' in Spoken Corpus Frequency: #939
Written Corpus Frequency
Rank popularity for the word 'economy' in Written Corpus Frequency: #1547
Rank popularity for the word 'economy' in Nouns Frequency: #360
The numerical value of economy in Chaldean Numerology is: 5
The numerical value of economy in Pythagorean Numerology is: 9
Sample Sentences & Example Usage
People want economy and they will pay any price to get it.
Government's view of the economy could be summed up in a few short phrases If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it.
Knowledge networks will transform the global economy. They will change the way we think, learn and work. In the new economy your network should be at the heart of your strategy.
Republicans in Congress have put forward the same proposals year after year after year regardless of the realities of the economy, when the economy’s in a slump? We needed tax cuts. When the economy’s doing well? You know what – let’s try some tax cuts.
Humor is not a postscript or an incidental afterthought it is a serious and weighty part of the world's economy. One feels increasingly the height of the faculty in which it arises, the nobility of things associated with it, and the greatness of services it renders.
Images & Illustrations of economy
Translations for economy
From our Multilingual Translation Dictionary
- экано́міка, гаспада́ркаBelarusian
- икономисване, иконо́мия, стопанство, иконо́микаBulgarian
- ekonomika, hospodářství, úspornostCzech
- økonomi, husholdningDanish
- Ökonomie, WirtschaftGerman
- geilleagar, barainneachtIrish
- eaconomaidhScottish Gaelic
- տնտեսում, խնայողություն, էկոնոմիկա, տնտեսությունArmenian
- hagsýni, sparnaður, hagur, ráðdeild, efnahagslíf, nýtni, atvinnulifIcelandic
- economia, risparmioItalian
- ықтисат, экономикаKazakh
- 경제, 經濟Korean
- ekonomika, ekonomijaLatvian
- аж ахуй, эдийн засагMongolian
- экономикæOssetian, Ossetic
- gospodarka, ekonomiaPolish
- economia, frugalidade, econômicoPortuguese
- хозя́йство, эконо́мия, бережли́вость, экономи́чность, эконо́мика, экономныйRussian
- privreda, економија, ekonomija, привреда, господарство, gospodarstvoSerbo-Croatian
- අරපරික්සමSinhala, Sinhalese
- hospodárstvo, ekonomikaSlovak
- ekonomi, hushållning, ekonomiskSwedish
- иқтисод, иқтисодиётTajik
- ekonomi, iktisat, tutumTurkish
- ئىقتىسادUyghur, Uighur
- еконо́міка, господа́рствоUkrainian
- tiết kiệmVietnamese
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