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economic - Dictionary Entry

economic

Part of Speech

Adjective

Pronunciation

/ˌiː.kəˈnɒm.ɪk/ (British English) | /ˌɛ.kəˈnɑː.mɪk/ (American English)

Definitions

  1. Relating to the economy, the system of production, consumption, and trade.
  2. Efficient in terms of the use of resources or cost.

Usage Examples

  • "The economic growth of the country has been remarkable in recent years."
  • "Using solar power is an economic alternative to fossil fuels."

Etymology

From Latin oeconomicus, from Greek oikonomikos, meaning "relating to household management."

Synonyms

  • Financial
  • Commercial
  • Monetary

Antonyms

  • Uneconomic
  • Unprofitable

Translations

Language Translation Pronunciation
Spanisheconómico/e.koˈno.mi.ko/
Frenchéconomique/e.kɔ.nɔ.mik/
Germanökonomisch/øː.kɔˈnoː.mɪʃ/
Chinese (Mandarin)经济的/jīng jì de/
Hindiआर्थिक/aarthik/

Regional Pronunciation Variations

  • British English: /ˌiː.kəˈnɒm.ɪk/
  • American English: /ˌɛ.kəˈnɑː.mɪk/

Historical Usage

The word "economic" has been in use since the 16th century, originally referring to household management before expanding to broader financial and trade-related contexts.

Cultural Nuances

In different cultures, "economic" may carry distinct connotations; for instance, in capitalist economies, it often implies financial growth, while in socialist contexts, it can relate to resource distribution.

More Information

The term "economic" is widely used in discussions about national policies, financial markets, and sustainability. It plays a crucial role in shaping governmental decisions and corporate strategies worldwide.

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