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economy

economy

56 3.2
A way of saving money by spending less
  • noun
  • /ɪˈkɒnəmi/
translation icon : ahorro
  • Just like the man or woman in the street, when I am short one week, I have to make economies the next.
  • fuel economy
  • economies of scale
  • vehicle fuel economy

Examples

  • For an efficient farm you need proper upkeep and economies of scale vastly in excess of what you have now.

  • For over a century now, since the Crash, we have been adapting to an economy of scarcity.

    Fiction book (1999)
  • Improved drinking water plays a significant role in the economies of developing countries.

    Academic text (2011)
  • The New York Transit offers speed, comfort and economy.

  • The way you spend that dollar already affects economies and lives around the world.

  • The importance of this fact to understanding the role of fuel economy regulation cannot be overemphasized.

    Academic text (1990)
  • Globalization has thus allowed firms to exploit more fully the economies associated with R&D activities.

    Academic text (1999)
  • The rationale for merging offices was to eliminate redundancies, reach economies of scale, and strengthen weak offices.

    Academic text (1999)
  • When planning a budget, it is essential to make economies to save money for future expenses.

  • The new policy aimed at promoting economies within the organization to increase profitability.

Synonyms

spending cut
vseconomy
79 3.3

A decision by a government or organization to use less money

is the general act of lowering costs rather than a formal budget reduction
cost cutting
vseconomy
14 3.0

Steps a company takes to spend less money

is a general act of reducing costs not limited to business use
saving
vseconomy
1 2.0

Money kept by spending less

focuses on reducing costs to keep money
economization
vseconomy
  • US
6.3

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

focuses on reducing costs specifically to keep money
economism
vseconomy
  • Archaic
9.9

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

describes a single act of reducing costs rather than ongoing frugality

Antonyms

7 6.8

Spending a lot of money in a wasteful way

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

austerity measure
  • Formal
15 7.0
economy
56 3.2
cost cutting
14 3.0

Surface Forms

economy singular
economies plural

Etymology

Economy comes from the Greek oikonomia, with oikos 'house' and nomos 'management', so it originally meant careful household running. That is why an economy can also mean a small saving or a cut in spending — a simple way to spend less and save money.