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IELTS BNC: 817 COCA: 645

economy

1 of 2

noun

econ·​o·​my i-ˈkä-nə-mē How to pronounce economy (audio)
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

Example Sentences

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
The starting iPhone 14 price is incredible, given its features and the economy. Chris Smith, BGR, 8 Sep. 2022 Although the Fed doesn’t control consumer interest rates like those on home and auto loans or credit cards, its rate increases ripple through the economy and eventually consumers pay more. Medora Lee, USA TODAY, 8 Sep. 2022 That would especially be the case if the economy faces more supply shocks, or events that curtail the ability to produce goods and services. Nick Timiraos, WSJ, 8 Sep. 2022 For more than a century, the pillaged wealth of the Asian subcontinent had turbocharged the British economy and undergirded Britain’s rise to global preeminence. Ishaan Tharoor, Washington Post, 8 Sep. 2022 Powell has raised interest rates four times throughout 2022, hoping to cool the economy and bring down consumer prices. Will Daniel, Fortune, 8 Sep. 2022 Nonetheless, the minister said Cuba hopes the economy will grow by 2.5% this year. Edith M. Lederer, BostonGlobe.com, 8 Sep. 2022 Currently, the Sky Train connects the terminals with the east economy parking lot and the Valley Metro light rail station at 44th and Washington streets. Michael Salerno, The Arizona Republic, 8 Sep. 2022 Even before the pandemic when the economy was booming, people were balking at the substantial price tags for smartphones with upgrades that don't win over owners of recent models. CBS News, 7 Sep. 2022 See More

Word History

Etymology

Noun

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

Noun

15th century, in the meaning defined at sense 4

Adjective

1821, in the meaning defined above

Time Traveler
The first known use of economy was in the 15th century

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