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economy

  (ĭ-kŏn'ə-mē) pronunciation
n., pl. -mies.
    1. Careful, thrifty management of resources, such as money, materials, or labor: learned to practice economy in making out the household budget.
    2. An example or result of such management; a saving.
    1. The system or range of economic activity in a country, region, or community: Effects of inflation were felt at every level of the economy.
    2. A specific type of economic system: an industrial economy; a planned economy.
  1. An orderly, functional arrangement of parts; an organized system: “the sense that there is a moral economy in the world, that good is rewarded and evil is punished” (George F. Will).
  2. Efficient, sparing, or conservative use: wrote with an economy of language.
  3. The least expensive class of accommodations, especially on an airplane.
  4. Theology. The method of God's government of and activity within the world.
adj.

Economical or inexpensive to buy or use: an economy car; an economy motel.

[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.


 
 

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.

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What are emerging market economies, and are the potential rewards for investors worth the risks? What Is An Emerging Market Economy?
It's the one 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


 

Recognizable and cohesive group of economic performers (producers, labor, consumers) who interact largely together. Economies usually are recognized geographically (countries, states) or, occasionally, as worldwide industries.

 
Thesaurus: economy

noun

    Careful use of material resources: frugality, providence, prudence, thrift, thriftiness. See save/waste.

 
Antonyms: economy

n

Definition: saving, frugality
Antonyms: spending, squandering


 

[Th]

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.

 
A cynical view of the world by Ambrose Bierce


n.

Purchasing the barrel of whiskey that you do not need for the price of the cow that you cannot afford.


 
Word Tutor: economy
pronunciation

IN BRIEF: n. - Frugality in the expenditure of money or resources; The efficient use of resources; The system of production and distribution and consumption.

pronunciation I place economy among the first and important virtues, and public debt as the greatest of dangers. — Thomas Jefferson 

 
Translations: Translations for: Economy

Dansk (Danish)
n. - økonomi, sparsommelighed, økonomisering, knaphed, fåmælthed
adj. - økonomi-, spare-

idioms:

  • command economy    planøkonomi
  • controlled economy    kontrolleret økonomi
  • economy class    økonomiklasse
  • economy size    økonomistørrelse
  • false economy    falsk sparsommelighed

Nederlands (Dutch)
economie, bezuiniging, zuinigheid, organisatie

Français (French)
n. - économie, système économique
adj. - de l'économie

idioms:

  • command economy    économie de commande, économie dirigée
  • controlled economy    économie dirigée
  • economy class    classe économique
  • economy size    taille de l'économie
  • false economy    fausse économie

Deutsch (German)
n. - Wirtschaft, Einsparung, Sparsamkeit
adj. - sparsam, (energie)sparend, Touristen(klasse)

idioms:

  • command economy    Planwirtschaft
  • controlled economy    Planwirtschaft
  • economy class    Touristenklasse
  • economy size    Sparpackung
  • false economy    Sparen am falschen Platz

Ελληνική (Greek)
n. - οικονομία, μέτρο λιτότητας

idioms:

  • command economy    (οικον.) κεντρικά διευθυνόμενη οικονομία
  • controlled economy    (οικον.) ελεγχόμενη οικονομία
  • economy class    (για μεταφορικά μέσα) οικονομική ή τουριστική θέση
  • economy size    οικονομικό μέγεθος
  • false economy    εικονικό μέτρο λιτότητας

Italiano (Italian)
economia, risparmio, parsimonia

idioms:

  • command economy    economia controllata
  • controlled economy    dirigismo economico
  • economy class    classe economica
  • economy size    formato economico
  • false economy    pseudoeconomia

Português (Portuguese)
n. - economia (f), poupança (f)

idioms:

  • command economy    economia (f) dirigida (Pol.)
  • controlled economy    economia (f) controlada (Pol.)
  • economy class    classe (f) econômica
  • economy size    economia (f) de escala
  • false economy    economia (f) falsa

Русский (Russian)
экономика, экономия, хозяйство, бережливость, хозяйственность

idioms:

  • command economy    командная экономика
  • controlled economy    командная экономика
  • economy class    туристический класс
  • economy size    большая упаковка
  • false economy    бессмысленная экономия

Español (Spanish)
n. - sistema económico, ahorro, reducción de gastos, economía
adj. - económico

idioms:

  • command economy    economía dirigida
  • controlled economy    economía controlada/dirigida
  • economy class    clase turista, clase económica
  • economy size    de tamaño familiar o económico
  • false economy    economía falsa, economía que causa derroche

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:

  • command economy    指令性经济
  • controlled economy    管制经济
  • economy class    经济舱位, 二等舱位
  • economy size    经济包
  • false economy    假的经济

中文(繁體) (Chinese (Traditional))
n. - 經濟, 節約, 理財
adj. - 廉價的, 經濟的

idioms:

  • command economy    指令性經濟
  • controlled economy    管制經濟
  • economy class    經濟艙位, 二等艙位
  • economy size    經濟包
  • false economy    假的經濟

한국어 (Korean)
n. - 절약
adj. - 경제형인

日本語 (Japanese)
n. - 節約, 経済, 経済機構

idioms:

  • controlled economy    支配経済
  • economy class    エコノミークラス
  • economy size    エコノミーサイズ経済的サイズ

العربيه (Arabic)
‏(الاسم) اقتصاد‏

עברית (Hebrew)
n. - ‮כלכלה, חיסכון‬
adj. - ‮מכוון לחסוך‬


 
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American Sign Language
commtechlab.msu.edu
 
 
 

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Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. Published by Houghton Mifflin Company. All rights reserved.  Read more
Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved.  Read more
Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Thesaurus. Roget's II: The New Thesaurus, Third Edition by the Editors of the American Heritage® Dictionary Copyright © 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.  Read more
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