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   economy

   /ɪˈkɒnəmi/

   noun

   • 1. the state of a country or region in terms of the production and consumption of goods and services and the supply of money: "he favours tax cuts to stimulate the economy" Similar wealth(financial) resourcesfinancial systemfinancial statefinancial management
   • ▪ a particular system or stage of an economy: "a free-market economy"
   • 2. careful management of available resources: "fuel economy" Similar thriftprovidenceprudencethriftinesscanninesscarefulnesscaregood managementgood husbandrycareful budgetingeconomizingsavingscrimping and savingscrimpingrestraintfrugalityfuel-savingabstemiousnessmeannesspenny-pinchingmiserlinessniggardlinessparsimonyforehandednessinformal:stinginessrare:sparingnessfrugalnessOpposite extravagance
   • ▪ offering good value for money: "an economy pack of soap flakes"
   • ▪ sparing or careful use of something: "a technique based on economy of effort" Similar thriftprovidenceprudencethriftinesscanninesscarefulnesscaregood managementgood husbandrycareful budgetingeconomizingsavingscrimping and savingscrimpingrestraintfrugalityfuel-savingabstemiousnessmeannesspenny-pinchingmiserlinessniggardlinessparsimonyforehandednessinformal:stinginessrare:sparingnessfrugalnessOpposite extravagance
   • ▪ a financial saving: "there were many economies to be made by giving up our London offices"
   • ▪ the cheapest class of air or rail travel: "we flew economy"

   Word Origin late 15th century (in the sense ‘management of material resources’): from French économie, or via Latin from Greek oikonomia ‘household management’, based on oikos ‘house’ + nemein ‘manage’. Current senses date from the 17th century.

   Scrabble Points: 14

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