noun, plural e·con·o·mies.
- 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.
- economy class.
- 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 relating to economy class: the economy fare to San Francisco.
- in economy-class accommodations, or by economy-class conveyance: to travel economy.
noun plural -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 efforteconomy of language
- the complex of human activities concerned with the production, distribution, and consumption of goods and services
- a particular type or branch of such production, distribution, and consumptiona socialist economy; an agricultural economy
- the management of the resources, finances, income, and expenditure of a community, business enterprise, etc
- a class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare
- (as modifier)economy class
- (modifier) offering or purporting to offer a larger quantity for a lower priceeconomy pack
- the orderly interplay between the parts of a system or structurethe 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.).