
[Middle English yconomye, management of a household, from Latin oeconomia, from Greek oikonomiā, from oikonomos, manager of a household : oikos, house + nemein, to allot, manage.]
WORD HISTORY Managing an economy has at least an etymological justification. The word economy can be traced back to the Greek word oikonomos, "one who manages a household," derived from oikos, "house," and nemein, "to manage." From oikonomos was derived oikonomiā, which had not only the sense "management of a household or family" but also senses such as "thrift," "direction," "administration," "arrangement," and "public revenue of a state." The first recorded sense of our word economy, found in a work possibly composed in 1440, is "the management of economic affairs," in this case, of a monastery. Economy is later recorded in other senses shared by oikonomiā in Greek, including "thrift" and "administration." What is probably our most frequently used current sense, "the economic system of a country or an area," seems not to have developed until the 19th or 20th century.
| Economist, Economies of Scale, Economics | |
| Edgar, Edge Act Corporation, Edict |
noun
Definition: saving, frugality
Antonyms: spending, squandering
The aspect of a social system that functions to order technological procedures socially and to control them in the interests of social units, whether individuals or collectives.
The large set of inter-related economic production and consumption activities which aid in determining how scarce resources are allocated.
Investopedia Says:
The economy encompasses everything related to the production and consumption of goods and services in an area.
The economy and the factors affecting the economy have spawned one of the largest fields of study in human history - economics. The study of economics can be broken into two major areas of focus, microeconomics and macroeconomics.
Related Links:
What is the difference between inflation and stagflation?
The economy has a large impact on the market. Learn how to interpret the most important reports. Economic Indicators To Know
From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone. Explaining The World Through Macroeconomic Analysis
Learning about the study of economics can help you understand why you face contradictions in the market.
The Uncertainty Of Economics: Exploring The Dismal Science
Find out how former Iron Curtain countries used private enterprise to join the world financial markets. State-Run Economies: From Public To Private
Emerging markets provide new investment opportunities, but there are risks - both to residents and foreign investors. What Is An Emerging Market Economy?
It's the key to any market economy, so investors need to learn the measures and how to analyze them. Consumer Confidence: A Killer Statistic
Learn how governments adjust taxes and government spending to moderate the economy. What Is Fiscal Policy?
Learn economics principles such as the relationship of supply and demand, elasticity, utility, and more! Economics Basics
Learn this easy-to-understand technique of analyzing a company's financial statements and reports. Introduction To Fundamental Analysis
n.
Purchasing the barrel of whiskey that you do not need for the price of the cow that you cannot afford.
I place economy among the first and important virtues, and public debt as the greatest of dangers.
— Thomas Jefferson
LearnThatWord.com is a free vocabulary and spelling program where you only pay for results!

Dansk (Danish)
n. - økonomi, sparsommelighed, økonomisering, knaphed, fåmælthed
adj. - økonomi-, spare-
idioms:
Nederlands (Dutch)
economie, bezuiniging, zuinigheid, organisatie
Français (French)
n. - économie, système économique
adj. - de l'économie
idioms:
Deutsch (German)
n. - Wirtschaft, Einsparung, Sparsamkeit
adj. - sparsam, (energie)sparend, Touristen(klasse)
idioms:
Ελληνική (Greek)
n. - οικονομία, μέτρο λιτότητας
idioms:
Italiano (Italian)
economia, risparmio, parsimonia
idioms:
Português (Portuguese)
n. - economia (f), poupança (f)
idioms:
Русский (Russian)
экономика, экономия, хозяйство, бережливость, хозяйственность
idioms:
Español (Spanish)
n. - sistema económico, ahorro, reducción de gastos, economía
adj. - económico
idioms:
Svenska (Swedish)
n. - ekonomi, sparsamhet, ekonomisk förvaltning
中文(简体)(Chinese (Simplified))
经济, 节约, 理财, 廉价的, 经济的
idioms:
中文(繁體)(Chinese (Traditional))
n. - 經濟, 節約, 理財
adj. - 廉價的, 經濟的
idioms:
한국어 (Korean)
n. - 절약
adj. - 경제형인
日本語 (Japanese)
n. - 節約, 経済, 経済機構
idioms:
العربيه (Arabic)
(الاسم) اقتصاد
עברית (Hebrew)
n. - כלכלה, חיסכון
adj. - מכוון לחסוך
If you are unable to view some languages clearly, click here.