noun econ·o·my \i-ˈkä-nə-mē, ə-, ē-\

: the process or system by which goods and services are produced, sold, and bought in a country or region

: careful use of money, resources, etc.

: something that makes it possible for you to spend less money

plural econ·o·mies

Full Definition of ECONOMY

archaic :  the management of household or private affairs and especially expenses
a :  thrifty and efficient use of material resources :  frugality in expenditures; also :  an instance or a means of economizing :  saving
b :  efficient and concise use of nonmaterial resources (as effort, language, or motion)
a :  the arrangement or mode of operation of something :  organization
b :  a system especially of interaction and exchange <an economy of information>
:  the structure or conditions of economic life in a country, area, or period; also :  an economic system

Origin of ECONOMY

Middle French yconomie, from Medieval Latin oeconomia, from Greek oikonomia, from oikonomos household manager, from oikos house + nemein to manage — more at vicinity, nimble
First Known Use: 15th century



: designed to cost less money

Full Definition of ECONOMY

:  designed to save money <economy cars>

First Known Use of ECONOMY

circa 1906

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer
ECONOMY Defined for Kids


noun econ·o·my \i-ˈkä-nə-mē\
plural econ·o·mies

Definition of ECONOMY for Kids

:  the way in which goods and services are made, sold, and used in a country or area <the city's economy>
:  the careful use of money and goods :  thrift <With economy and restraint, they managed to live on their small income.>
Medical Dictionary


noun econ·o·my \i-ˈkän-ə-mē\
plural econ·o·mies

Medical Definition of ECONOMY

:  the system of operation of the processes of anabolism and catabolism in living bodies <the economy of the cell>
:  the body of an animal or plant as an organized whole <disorganizing wide segments of the body economy—Leonard Engel>
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