economy Definition

economy
noun economies

1. The organization of money and resources within a nation or community, etc, especially in terms of the production, distribution and consumption of goods and services.
2. A system in which these are organized in a specified way.

Example: a socialist economy
3. Careful management of money or other resources, avoiding waste and cutting down on spending.
4. An instance of economizing; a saving.

Form: economies (usually)
5. Efficient or sparing use of something.

Example: economy of movement
6a. Said of a class of travel, especially air travel: of the cheapest kind;
6b. Said of a packet of food, etc: larger than the standard or basic size, and proportionally cheaper.

Form: economy-size (also)
Form: economy-sized

Etymology: 16c: from Greek oikos house + nemein to control.