noun, plural economies.
thrifty management; frugality in the expenditure or consumption of money, materials, etc.
an act or means of thrifty saving; a saving: He achieved a small economy by walking to work instead of taking a bus.
the management of the resources of a community, country, etc., especially with a view to its productivity.
the prosperity or earnings of a place: Further inflation would endanger the national economy seriously.
the disposition or regulation of the parts or functions of any organic whole; an organized system or method.
the efficient, sparing, or concise use of something: an economy of effort; an economy of movement.
the divine plan for humanity, from creation through redemption to final beatitude.
the method of divine administration, as at a particular time or for a particular race.
Obsolete. the management of household affairs.
intended to save money: to reduce the staff in an economy move.
costing less to make, buy, or operate: an economy car.
of or pertaining to economy class: the economy fare to San Francisco.
in economy-class accommodations, or by economy-class conveyance: to travel economy.

1520–30; (< Middle French economie) < Latin oeconomia < Greek oikonomíā household management, equivalent to oîko(s) house + -nomia -nomy

noneconomy, noun, plural noneconomies.
subeconomy, noun, plural subeconomies.
supereconomy, noun, plural supereconomies.

1. thriftiness, thrift, saving.

1. lavishness, extravagance, wastefulness. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
economy (ɪˈkɒnəmɪ)
n , pl -mies
1.  careful management of resources to avoid unnecessary expenditure or waste; thrift
2.  a means or instance of this; saving
3.  sparing, restrained, or efficient use, esp to achieve the maximum effect for the minimum effort: economy of language
4.  a.  the complex of human activities concerned with the production, distribution, and consumption of goods and services
 b.  a particular type or branch of such production, distribution, and consumption: a socialist economy; an agricultural economy
5.  the management of the resources, finances, income, and expenditure of a community, business enterprise, etc
6.  a.  a class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare
 b.  (as modifier): economy class
7.  (modifier) offering or purporting to offer a larger quantity for a lower price: economy pack
8.  the orderly interplay between the parts of a system or structure: the economy of nature
9.  philosophy the principle that, of two competing theories, the one with less ontological presupposition is to be preferred
10.  archaic the management of household affairs; domestic economy
[C16: via Latin from Greek oikonomia domestic management, from oikos house + -nomia, from nemein to manage]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

c.1530, "household management," from L. oeconomia, from Gk. oikonomia "household management," from oikonomos "manager, steward," from oikos "house" (cognate with L. vicus "district," vicinus "near;" O.E. wic "dwelling, village;" see villa) + nomos "managing," from nemein
"manage" (see numismatics). The sense of "wealth and resources of a country" (short for political economy) is from 1650s.

as a term in advertising, at first meant simply "cheaper" (1821), then "bigger and thus cheaper per unit or amount" (1950). See economy (n.).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Cutting government spending and raising taxes reduces the amount of demand in
  the economy, which makes the recession worse.
You underestimate the organic nature of a capitalist economy.
Sugar, rum, and molasses became the island's main economy.
The economy is rebounding, but not the job market.
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