economy

Meanings

1. 1
   noun

   frugality in the expenditure of money or resources

   the Scots are famous for their economy

2. 2
   noun

   the efficient use of resources

   economy of effort

3. 3
   noun

   the system of production and distribution and consumption

   The economy of a country is often measured by its gross domestic product.

4. 4
   noun

   Effective management of a community or system, or especially its resources.

   animal economy, vegetable economy

5. 5
   noun

   Frugal use of resources.

   economy of word

6. 6
   noun

   The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.

   An economy open to free movement of capital can keep a fixed exchange rate, for example, only by subjugating monetary-policy goals to its defence—by raising interest rates sharply, say, when capital outflows put downward pressure on the currency. Yet the trilemma also implies that an economy can enjoy both free capital flows and an independent monetary policy, so long as it gives up worrying about its exchange rate. […] As advanced economies opened their monetary spigots to boost ailing economies, emerging-market complaints grew louder.

7. 7
   noun

   The method of divine government of the world. (See Economy (religion) on Wikipedia.Wikipedia .)

   The economy of God is in Jesus Christ alone.

8. 8
   adj

   Cheap to run; using minimal resources; representing good value for money; economical.

   He bought an economy car.

Etymology

From Middle English yconomye, yconomy, borrowed via Old French [Term?] or Medieval Latin from Latin oeconomia, from Ancient Greek οἰκονομία (oikonomía, “management of a household, administration”), from οἶκος (oîkos, “house”) + νέμω (némō, “distribute, allocate”). By surface analysis, eco- + -nomy. The first recorded sense of the word economy, found in a work possibly composed in 1440, is “the management of economic affairs”, in this case, of a monastery.