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economy

economy

54 3.1
Careful use of time, money, or effort to avoid waste
  • noun
  • /ɪˈkɒnəmi/
translation icon : economía
  • Adopting a more efficient economy in our daily routines can help reduce unnecessary expenditure.
  • fuel economy
  • principle of economy
  • economy of energy

When you have more experience, you can have a better economy of your work.

Examples

  • The government is promoting an economy that minimizes waste and maximizes efficiency in public spending.

  • When you have more experience, you can have a better economy of your work.

  • Instead of an economy of scale, we might have an economy run at human scale.

    Academic text (2011)
  • All of this one is bad for the real economy and for real prosperity and real living standards.

  • The key is to gradually reduce the material throughout the economy, reducing energy use and pollution in the process.

    Academic text (1999)
  • She strives to build an economy in which all Americans can thrive.

  • In 1977, President Carter proposed to stimulate the economy by providing a $50 rebate to each family.

    Academic text (1990)
  • To ensure sustainability, the team focused on an economy of resources during the project.

Synonyms

frugality
vseconomy
8 5.8

Careful use of money and things to avoid waste

is about actual use and management of resources in practice
thriftiness
vseconomy
1 5.0

Careful use of money and things to avoid waste

is broader covering management of time words or other resources
economism
vseconomy
  • Archaic
9.9

An old word for careful use of money to save and avoid waste

is the common modern term without archaic usage
frugalness
vseconomy
6.8

Careful use of money and things to avoid waste

focuses on managing resources broadly rather than personal habit
economization
vseconomy
  • US
6.3

The act of reducing spending and using resources better to save money

is the general use and management of resources not just single savings actions

Antonyms

27 4.2

A situation when work wastes time, money or effort

1 4.6

Using money or things carelessly in a way that causes extra loss

Compounds

market economy
  • Specialized
93 3.0

A system where people and businesses buy and sell goods and prices are set by supply and demand

24 3.7

The money, businesses, and jobs that support a town or area

economy of scale
  • Specialized
11 4.3

Lower cost for each item when a company makes many of them

political economy
  • Specialized
6 5.3

Study of how governments and policies affect making, sharing, and using things and services

An economic system where private people or companies own businesses and try to make money

The cheapest seats on a plane, train, or ship with basic services

mixed economy
  • Specialized
2 4.1

A system where both private companies and the government own and run businesses

A system where the state or community owns major businesses and resources instead of private owners

black economy
  • Specialized
1 8.0

Hidden business activity not recorded by the government, like unreported cash sales or illegal trade

A system where the government controls what is made, how goods are shared, and their prices

managed economy
  • Specialized
1 7.0

A system where the government decides prices and directs goods and investment

non-market economy
  • Specialized
1 7.9

An economy where the government decides what is made and sets prices instead of markets

A major book by Karl Marx about how capitalism works

laissez-faire economy
  • Specialized
7.2

An economy where businesses operate with little government control

token economy
  • Texting
6.5

A digital system that gives tokens for actions and lets users trade or spend them for services

token economy
  • Specialized
6.5

A system that gives tokens for good behavior and lets people exchange them for rewards

How Economical

parsimony
2 9.9
frugality
8 5.8
economy
54 3.1
saving
1 2.0

Surface Forms

economy singular
economies plural

Etymology

Economy comes from the Greek word oikonomia, made of oikos 'house' and nomos 'management'. So an economy of words or space is like running a house well, meaning you use things carefully and avoid waste.