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Dictionary definition for: Economy

1. (n) the system of production and distribution and consumption

2. (n) the efficient use of resources; "economy of effort"

3. (n) frugality in the expenditure of money or resources; "the Scots are famous for their economy"

4. (n) 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"

WordNet 2.1 Copyright Princeton University. All rights reserved.