economy in English
- economy⇄adj. 1. less expensive than others of its kind; economical.
Ex. an economy car.
2. of or having to do with economy class.
Ex. economy flights, economy fare.
3. economy-size. - economy⇄economy, noun, pl.-mies,adjective.
- economy⇄noun 1. a making the most of what one has; avoiding waste in the use of anything; thrift.
Ex. By using economy in buying food and clothes, we were soon able to save enough money for the new car we needed.
2. an instance of this.
Ex. Th
economy in Konkani कोंकणी
economy in Marathi मराठी
economy in Nepali नेपाली
economy in Sindhi سنڌي
economy in Tamil தமிழ்
economy in Telugu తెలుగు
economy
Part of Speech
Noun
Pronunciation
/ɪˈkɒn.ə.mi/ (British English) | /ɪˈkɑː.nə.mi/ (American English)
Definitions
- The system of production, distribution, and consumption of goods and services in a society.
- Efficient and careful management of resources, such as money or materials.
- A financial savings or reduction in expenditure.
Usage Examples
- "The country's economy grew by 5% last year."
- "She practiced economy by shopping for discounts."
- "A fuel-efficient car is a good economy choice."
Etymology
Derived from the Greek word 'oikonomia' meaning 'household management,' later adapted into Latin as 'oeconomia' and then into English as 'economy.'
Synonyms
- Financial system
- Frugality
- Resource management
- Budgeting
Antonyms
- Waste
- Extravagance
- Inefficiency
Translations
| Language | Translation | Pronunciation |
|---|---|---|
| Spanish | economía | /e.ko.noˈmi.a/ |
| French | économie | /e.kɔ.nɔ.mi/ |
| German | Wirtschaft | /ˈvɪʁt.ʃaft/ |
| Chinese (Mandarin) | 经济 | /jīng jì/ |
| Hindi | अर्थव्यवस्था | /arthavyavastha/ |
Regional Pronunciation Variations
- British English: /ɪˈkɒn.ə.mi/
- American English: /ɪˈkɑː.nə.mi/
Historical Usage
The term "economy" was historically used to describe household management before evolving into a broader term for national and global financial systems.
Cultural Nuances
Different cultures emphasize various aspects of the economy. Some prioritize wealth accumulation, while others focus on sustainable resource management and communal living.
More Information
The concept of an economy plays a central role in human civilization, governing trade, employment, and financial stability. Modern economies are categorized as market, mixed, or command economies. Economic policies impact inflation, job creation, and technological advancements. In personal finance, economy refers to smart budgeting and avoiding unnecessary expenses.