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/ɪˈkɑːnəmi/
Meaning & Definition
noun
The system of production, distribution, and consumption of goods and services in a society.
The economy of the country is showing signs of recovery after the recession.
Economic management or policy; a particular economic system.
The government is focused on creating a sustainable economy that benefits all citizens.
The careful management of resources; thrift.
She practiced economy in her shopping habits to save money for her vacation.
A specific sector of productive or economic activity.
The technology economy is rapidly growing with innovations in software and hardware.
The state of a country or region in terms of the production and consumption of goods and services.
The global economy is interconnected, with various countries relying on each other for trade.
Etymology
From the Greek 'oikonomia', meaning 'management of a household'.
Common Phrases and Expressions
global economy
The interconnected economies of different countries.
economy class
A travel class with the lowest fares on airlines.
sharing economy
An economic model based on sharing assets or services.
digital economy
An economy that is based on digital computing technologies.
sustainable economy
An economy that aims to meet the needs of the current generation without compromising future generations.
Related Words
economics
The study of how people manage resources.
economic
Related to the economy or the economy of a specific area.
economist
A professional who studies the economy and economic principles.
Slang Meanings
In the black
The company is finally in the black, which means it's profitable and contributing positively to the economy.
Down economy
During a down economy, many people lose their jobs and spending decreases.