noun

economy

ih-KO-nuh-mee

noun

The system of production, trade, and consumption within a country, region, or community.

"The national economy grew by two percent last year."

Careful or frugal use of money or resources.

"They practised economy by cutting back on unnecessary trips."

The cheaper class of seating on a plane or train.

"We flew economy to save money for the hotel."

How to Use Economy

Learner’s notes

In plain EnglishThe system of trade and money in a country, or more generally, the careful, non-wasteful use of resources.

Common pairings

global economy economy of scale fly economy household economy

Word Forms

economies plural

Study it as flashcards or scroll it in Flow — saved to your collection.

Test yourself on “economy” A quick quiz — meaning, synonyms & usage →

Fill the Gap

Can you complete this real example?

The national _____ grew by two percent last year.

Etymology

From Greek oikonomía, "household management," from oîkos ("house") plus némō ("to manage" or "allocate") — the word originally described running a household well before it grew to mean running a whole economy.

Rhymes for economy

roomy gloomy sodomy anatomy autonomy lobotomy astronomy colostomy vasectomy mastectomy tracheotomy thoracotomy

See all rhymes for economy →