[ih-kon-uh-mee] /ɪˈkɒn ə mi/
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.
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 relating to economy class:
the economy fare to San Francisco.
in economy-class accommodations, or by economy-class conveyance:
to travel economy.
noun (pl) -mies
careful management of resources to avoid unnecessary expenditure or waste; thrift
a means or instance of this; saving
sparing, restrained, or efficient use, esp to achieve the maximum effect for the minimum effort: economy of language
the management of the resources, finances, income, and expenditure of a community, business enterprise, etc
(modifier) offering or purporting to offer a larger quantity for a lower price: economy pack
the orderly interplay between the parts of a system or structure: the economy of nature
(philosophy) the principle that, of two competing theories, the one with less ontological presupposition is to be preferred
(archaic) the management of household affairs; domestic economy
1530s, “household management,” from Latin oeconomia, from Greek oikonomia “household management, thrift,” from oikonomos “manager, steward,” from oikos “house” (cognate with Latin vicus “district,” vicinus “near;” Old English 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.).
noun 1. a low-priced type of accommodation for travel, especially on an airplane.
- Economy-class syndrome
noun 1. (not in technical usage) the development of a deep-vein thrombosis in the legs or pelvis of a person travelling for a long period of time in cramped conditions
- Economy of scale
noun 1. (economics) a fall in average costs resulting from an increase in the scale of production
[ih-kon-uh-mee-sahyz] /ɪˈkɒn ə miˌsaɪz/ adjective 1. larger in size and costing less per unit of measurement than a smaller size: an economy-size box of soap flakes. 2. smaller in size and costing less: economy-size cars.