[i-kon-uh-mee] Pronunciation Key noun, plural -mies, adjective, adverb | 1. | thrifty management; frugality in the expenditure or consumption of money, materials, etc. |
| 2. | an act or means of thrifty saving; a saving: He achieved a small economy by walking to work instead of taking a bus. |
| 3. | the management of the resources of a community, country, etc., esp. with a view to its productivity. |
| 4. | the prosperity or earnings of a place: Further inflation would endanger the national economy seriously. |
| 5. | the disposition or regulation of the parts or functions of any organic whole; an organized system or method. |
| 6. | the efficient, sparing, or concise use of something: an economy of effort; an economy of movement. |
| 7. | economy class. |
| 8. | Theology.
|
| 9. | Obsolete. the management of household affairs. |
| 10. | intended to save money: to reduce the staff in an economy move. |
| 11. | costing less to make, buy, or operate: an economy car. |
| 12. | of or pertaining to economy class: the economy fare to San Francisco. |
| 13. | in economy-class accommodations, or by economy-class conveyance: to travel economy. |
] Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.
| e·con·o·my
(ĭ-kŏn'ə-mē) Pronunciation Key
n. pl. e·con·o·mies
adj. Economical or inexpensive to buy or use: an economy car; an economy motel. [Middle English yconomye, management of a household, from Latin oeconomia, from Greek oikonomiā, from oikonomos, manager of a household : oikos, house; see weik-1 in Indo-European roots + nemein, to allot, manage; see nem- in Indo-European roots.] Word History: Managing an economy has at least an etymological justification. The word economy can be traced back to the Greek word oikonomos, "one who manages a household," derived from oikos, "house," and nemein, "to manage." From oikonomos was derived oikonomiā, which had not only the sense "management of a household or family" but also senses such as "thrift," "direction," "administration," "arrangement," and "public revenue of a state." The first recorded sense of our word economy, found in a work possibly composed in 1440, is "the management of economic affairs," in this case, of a monastery. Economy is later recorded in other senses shared by oikonomiā in Greek, including "thrift" and "administration." What is probably our most frequently used current sense, "the economic system of a country or an area," seems not to have developed until the 19th or 20th century. |
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2006 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
economy
| economy | |
noun | |
| 1. | the system of production and distribution and consumption |
| 2. | the efficient use of resources; "economy of effort" |
| 3. | frugality in the expenditure of money or resources; "the Scots are famous for their economy" |
| 4. | an act of economizing; reduction in cost; "it was a small economy to walk to work every day"; "there was a saving of 50 cents" |
Main Entry: econ·o·my
Pronunciation: i-'kän-&-mE
Function: noun
Inflected Form: plural -mies
1 : thesystem of operation of the processes of anabolism and catabolism in living bodies
2 : the body of an animal or plant as an organized whole
Economy
The large set of inter-related economic production and consumption activities which aid in determining how scarce resources are allocated.
Investopedia Commentary
The economy encompasses everything related to the production and consumption of goods and services in an area.
The economy and the factors affecting the economy have spawned one of the largest fields of study in human history - economics. The study of economics can be broken into two major areas of focus, microeconomics and macroeconomics.
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See also: Business Cycle, Capitalism, Dismal Science, Economics, Inflation, Keynesian Economics, Laissez Faire, Macroeconomics, Microeconomics
Economy, IN (town, FIPS 20152) Location: 39.97742 N, 85.08712 W
Population (1990): 151 (68 housing units)
Area: 0.3 sq km (land), 0.0 sq km (water)
Zip code(s): 47339
Economy, PA (borough, FIPS 22264) Location: 40.63840 N, 80.18511 W
Population (1990): 9519 (3373 housing units)
Area: 45.8 sq km (land), 0.2 sq km (water)
Economy
Di"o*cese\, n.; pl. Dioceses. [OE. diocise, OF. diocise, F. dioc['e]se, L. dioecesis, fr. Gr. ? housekeeping, administration, a province, a diocese, fr. ? to keep house, manage; dia` through + ? to manage a household, ? a house. See Economy.] (Eccl.) The circuit or extent of a bishop's jurisdiction; the district in which a bishop exercises his ecclesiastical authority. [Frequently, but improperly, spelt diocess.]economy
economy: in CancerWEB's On-line Medical Dictionary
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