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- Dictionaryeconomy/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
- 2. careful management of available resources: "fuel economy" Similar Opposite
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May 16, 2024 · What Is an Economy? An economy is a complex system of interrelated production, consumption, and exchange activities, which ultimately determine how resources are allocated among...
The meaning of ECONOMY is the structure or conditions of economic life in a country, area, or period; also : an economic system. How to use economy in a sentence.
ECONOMY definition: 1. the system of trade and industry by which the wealth of a country is made and used: 2. the…. Learn more.
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources.
An economy is everything involved in managing resources in a particular place. Resources are things known as goods and services. Goods are touchable things we can own, like food or cars. Services are work you can do for pay, such as cooking food at a restaurant or repairing a car at a garage.
Definition of economy noun from the Oxford Advanced Learner's Dictionary. economy. noun. /ɪˈkɒnəmi/ /ɪˈkɑːnəmi/ (plural economies) (often the economy) [countable] the relationship between production, trade and the supply of money in a particular country or region. The economy is in recession.
Jun 17, 2024 · The economy is the total of all activities related to the production, sale, distribution, exchange, and consumption of limited resources by a group of people living and...
: something that makes it possible for you to spend less money. [count] We'll also benefit from the economies provided by more efficient energy sources. Mass production creates economies of scale. [=situations in which it costs less to produce something because you are producing a lot at one time]
a situation in which someone or something does not use much money, fuel, etc: The car's design combines comfort with economy. UK We'll need to make some economies when I stop work. (Definition of economy from the Cambridge Learner's Dictionary © Cambridge University Press) Translations of economy. in Chinese (Traditional) 制度, 經濟, 經濟制度… See more.
An economy is the system according to which the money, industry, and trade of a country or region are organized.
