economy

1 of 2

noun

econ·​o·​my i-ˈkä-nə-mē 

ə-,

ē-

plural economies

1

: the structure or conditions of economic life in a country, area, or period

also : an economic system

2

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 (such as effort, language, or motion)

3

a

: the arrangement or mode of operation of something : organization

b

: a system especially of interaction and exchange

an economy of information

4

archaic : the management of household or private affairs and especially expenses

economy

2 of 2

adjective

: designed to save money

economy cars

Synonyms

Noun

• frugality
• husbandry
• parsimony
• penny-pinching
• providence
• scrimping
• skimping
• thrift

Examples of economy in a Sentence

Noun

The war altered the country's economy.

An increase in tourism will help the city's economy.

We must learn to practice economy.

We'll also benefit from the economies provided by more efficient energy sources.

It would be false economy to repair the leak without replacing the pipe.

Recent Examples on the Web

Noun

To make all of this a little more ethically dubious, add in the fact that in the creator economy, attention equals money. —Kelsey McKinney, Rolling Stone, 8 Feb. 2025

These exploitative financial relationships have contributed to the hollowing out of rural economies, as farm income has become increasingly concentrated among the largest operations, the regional companies that own the animals, and the massive meatpackers. —Kenny Torrella, Vox, 7 Feb. 2025

Chip Somodevilla | Getty Images The White House on Friday sought to blame former President Joe Biden for lower-than-expected U.S. job gains in January, using the new numbers to argue that President Donald Trump has inherited an ailing economy and temper expectations about inflation. —Kevin Breuninger, CNBC, 7 Feb. 2025

The private equity industry has invested more than $5.6 trillion in the U.S. economy since Mr. Trump's 2017 Tax Cuts & Jobs Act, Maloney noted. —Aimee Picchi, CBS News, 7 Feb. 2025

Word History

Etymology

Noun

Middle English yconomye, borrowed from Middle French yconomie, economie, borrowed from Medieval Latin yconomia, economia, oekonomia (Late Latin, "organization of the Trinity, plan, dispensation," Latin oeconomia "arrangement of material by an author,"), borrowed from Greek oikonomía "management of a household, direction, arrangement," from oikonómos "manager of a household, steward," (from oîkos "house" + -nomos, noun derivative of némein "to have management or control of, rule, direct") + -ia -y entry 2 — more at vicinity, nimble

Adjective

from attributive use of economy entry 1

First Known Use

Noun

15th century, in the meaning defined at sense 4

Adjective

1821, in the meaning defined above

Phrases Containing economy

• command economy
• economy of scale
• false economy
• fuel economy
• gift economy
• gig economy
• market economy
• mixed economy
• political economy
• sharing economy
• sub-economy
• the economy

Kids Definition

economy

noun

econ·​o·​my

i-ˈkän-ə-mē

plural economies

1

: careful use of money and goods : thrift

2

: a special arrangement or system : organization

3

: the way an economic system (as of a country or a period in history) is arranged

Etymology

Noun

derived from Greek oikonomos "household manager," from oikos "house" and nemein "to manage"

Medical Definition

economy

noun

econ·​o·​my i-ˈkän-ə-mē 

plural economies

1

: the system of operation of the processes of anabolism and catabolism in living bodies

the economy of the cell

2

: the body of an animal or plant as an organized whole

disorganizing wide segments of the body economy

—Leonard Engel