Meaning & Definition of word "Economically"

Economically

/ˌiː.kəˈnɒm.ɪ.kli/

1. In a manner that relates to the economy or finances; in a way that is efficient or uses resources wisely.
- Example: The company is looking for ways to operate more economically in order to increase its profits.
2. In a way that conserves resources or minimizes waste.
- Example: She plans to travel economically by using public transportation instead of renting a car.
3. In a manner that relates to economic principles or considerations.
- Example: The project was designed economically to ensure that funding was used effectively.

●From the word 'economy', which derives from the Greek 'oikonomia', meaning household management.

economically viable:

Capable of being sustained with an adequate profit.

economically challenged:

Impacted by financial obstacles or difficulties.

economically integrated:

Heavily interconnected in terms of economic activities.

economy:

The system of production, distribution, and consumption of goods and services in a society.

economic:

Pertaining to the economy or economics.

economist:

An expert in economics.

Meaning: Running on a tight budget.

● Example Sentence: I’m trying to live economically while saving up for a new car.

Meaning: Penny-pinching.

● Example Sentence: He’s so economically-minded that he never splurges on anything.