economy
pronunciation
How to pronounce economy in British English:
UK [ɪˈkɒnəmi]
How to pronounce economy in American English:
US [ɪˈkɑːnəmi]
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- Noun:
- the system of production and distribution and consumption
- the efficient use of resources
- frugality in the expenditure of money or resources
- an act of economizing; reduction in cost
Word Origin
- economy
- economy: [16] The underlying notion contained in the word economy is of ‘household management’. It comes, via French or Latin, from Greek oikonomíā, a derivative of oikonómos, a term for the ‘steward of a household’. This was a compound noun formed from oikos ‘house’ (a word related to the -wich element in many English place-names) and némein ‘manage’ (ultimate source of English antinomian and nomad).The original sense ‘household management’ was carried through into English. It broadened out in the 17th century to the management of a nation’s resources (a concept at first termed more fully political economy), while the use of the derivative economics for the theoretical study of the creation and consumption of wealth dates from the early 19th century.=> antinomian, ecology, nomad
- economy (n.)
- 1530s, "household management," from Latin oeconomia (source of French économie, Spanish economia, German Ökonomie, etc.), from Greek oikonomia "household management, thrift," from oikonomos "manager, steward," from oikos "house, abode, dwelling" (cognate with Latin vicus "district," vicinus "near;" Old English wic "dwelling, village;" see villa) + nomos "managing," from nemein "manage" (see numismatic). Meaning "frugality, judicious use of resources" is from 1660s. The sense of "wealth and resources of a country" (short for political economy) is from 1650s.
- economy (adj.)
- 1821 as a term in advertising, at first meant simply "cheaper," then "bigger and thus cheaper per unit or amount" (1950). See economy (n.).
Antonym
Example
- 1. They reflect shifts in the global economy .
- 2. The american economy is dynamic .
- 3. Busteed says the economy is a big reason .
- 4. China is looking to restructure its economy away from dependence on exports like textiles .
- 5. Well , I need an economy ticket .