Economy - definition, pronunciation, transcription

Amer.  |ɪˈkɑːnəmi|  American pronunciation of the word economy
Brit.  |ɪˈkɒnəmi|  British pronunciation of the word economy

noun

- the system of production and distribution and consumption
- the efficient use of resources

economy of effort

- frugality in the expenditure of money or resources(syn: thriftiness)

the Scots are famous for their economy

- an act of economizing; reduction in cost(syn: saving)

it was a small economy to walk to work every day

Examples

The war altered the country's economy.

An increase in tourism will help the city's economy.

We must learn to practice economy.

We'll also benefit from the economies provided by more efficient energy sources.

It would be false economy to repair the leak without replacing the pipe.

The council must make economies to meet government spending targets.

Not insuring your belongings is a false economy (=it is cheaper but could have bad results).

The gas fire was turned low for reasons of economy.

The company announced that it would cut 500 jobs as part of an economy drive (=a way to save money).

the Scots are famous for their economy

it was a small economy to walk to work every day

The government needs to do something to right the economy.

The years have brought many changes to the town's economy.

The economy is in a period of robust financial health.

The island has developed its economy around tourism.

Word forms

noun
singular: economy
plural: economies
See also:  WebsterWiktionaryLongman