Economy (noun) Definition, Meaning & Examples

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noun, plural e·con·o·mies.
    • the complex of activities related to the consumption, production, and trade of goods and services, as an ongoing functioning system: Further inflation would seriously endanger the national economy.
    • the general state of these activities at a particular time and in a certain country, region, etc.: The economy is booming, blue-collar wages are up, and unemployment is the lowest it's been in decades.We have had a number of clients who lost their jobs due to the economy.
    • the dominant framework, setting, or context for these activities: Economists predict a restoration of a market-driven capitalist economy in the country.More than 80 percent of the country's population is involved in agriculture, making it one of the most agrarian economies in the world.
  2. thrifty management; frugality in the expenditure or consumption of money, materials, etc.: By careful economy and some small sacrifices, he paid all his debts.
  3. an act or means of thrift; a saving: He achieved a small economy by walking to work instead of taking a bus.
  4. the efficient, sparing, or concise use of something: When you're ill, practicing an economy of effort for everyday tasks is important.
  5. economy class.
  6. the organization or regulation of the parts of a system: The medication disrupts the normal hormonal economy of the body.
  7. Theology.
    • the divine plan for humanity, from creation through redemption to final beatitude.
    • the method of divine administration at a particular time or for a particular people.
  8. the management of household affairs.
adjective
  1. costing less to make, buy, or operate: With fuel prices so bad, I'm glad I have an economy car.
  2. of or relating to economy class: The economy fare to San Francisco is only $20 cheaper.
  3. intended to save money: They voted to reduce the staff in an economy move.
adverb
  1. in economy-class accommodations, or by economy-class conveyance: These days I can only afford to travel economy.
noun plural -mies
  1. careful management of resources to avoid unnecessary expenditure or waste; thrift
  2. a means or instance of this; saving
  3. sparing, restrained, or efficient use, esp to achieve the maximum effect for the minimum effort
    • the complex of human activities concerned with the production, distribution, and consumption of goods and services
    • a particular type or branch of such production, distribution, and consumption
  5. the management of the resources, finances, income, and expenditure of a community, business enterprise, etc
    • a class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare
    • (as modifier)
  7. offering or purporting to offer a larger quantity for a lower price
  8. the orderly interplay between the parts of a system or structure
  9. the principle that, of two competing theories, the one with less ontological presupposition is to be preferred
  10. the management of household affairs; domestic economy
Economy (noun) Definition, Meaning & Examples

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