Link Centre Dictionary

economy

eco·nomy

UK/ɪˈkɒ.nə.mi/ US/iːˈkɒ.nə.mi/ common us

noun

1.
2.

the efficient use of resources

  • “economy of effort”
3.

frugality in the expenditure of money or resources

  • “the Scots are famous for their economy”
Synonyms
4.

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”
Synonyms

Origin

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.

Phrases

  • attention economy
  • black economy
  • blue economy
  • centrally planned economy
  • circular economy
  • collaborative economy
  • command economy
  • dual economy

Related words

Word family

Broader terms

Narrower terms

Part of

WordNet 2.1 (Princeton University). Wiktionary (CC BY-SA). CMU Pronouncing Dictionary. WordNet 2.1 Copyright Princeton University. All rights reserved. Wiktionary content is available under the Creative Commons Attribution-ShareAlike Licence.