Lexic.us

Definition of Economy

1. Noun. The system of production and distribution and consumption.

2. Noun. The efficient use of resources. "Economy of effort"

3. Noun. Frugality in the expenditure of money or resources. "The Scots are famous for their economy"

4. Noun. An act of economizing; reduction in cost. "There was a saving of 50 cents"

Definition of Economy

1. n. The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy.

Definition of Economy

1. Noun. Effective management of the resources of a community or system. ¹

2. Noun. Collective focus of the study of money, currency and trade, and the efficient use of resources. ¹

3. Noun. Frugal use of resources. ¹

4. Noun. The system of production and distribution and consumption. The overall measure of a currency system; as the national economy. ¹

5. Noun. (theology) The method of divine government of the world. ¹

6. Noun. (context: archaic) Management of one’s (residency). ¹

7. Adjective. Cheap to run; using minimal resources; representing good value for money. ¹

¹ Source: wiktionary.com

Definition of Economy

1. thrift [n -MIES] - See also: thrift

Medical Definition of Economy

1. 1. The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy. "Himself busy in charge of the household economies." (Froude) 2. Orderly arrangement and management of the internal affairs of a state or of any establishment kept up by production and consumption; especially, such management as directly concerns wealth; as, political economy. 3. The system of rules and regulations by which anything is managed; orderly system of regulating the distribution and uses of parts, conceived as the result of wise and economical adaptation in the author, whether human or divine; as, the animal or vegetable economy; the economy of a poem; the Jewish economy. "The position which they [the verb and adjective] hold in the general economy of language." (Earle) "In the Greek poets, as also in Plautus, we shall see the economy . . . Of poems better observed than in Terence." (B. Jonson) "The Jews already had a Sabbath, which, as citizens and subjects of that economy, they were obliged to keep." (Paley) 4. Thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony. Political economy. See Political. Synonym: Economy, Frugality, Parsimony. Economy avoids all waste and extravagance, and applies money to the best advantage, frugality cuts off indulgences, and proceeds on a system of saving. The latter conveys the idea of not using or spending superfluously, and is opposed to lavishness or profusion. Frugality is usually applied to matters of consumption, and commonly points to simplicity of manners, parsimony is frugality carried to an extreme, involving meanness of spirit, and a sordid mode of living. Economy is a virtue, and parsimony a vice. "I have no other notion of economy than that it is the parent to liberty and ease." (Swift) "The father was more given to frugality, and the son to riotousness [luxuriousness]" (Golding) Origin: F. Economie, L. Oeconomia household management, fr. Gr, fr. One managing a household; house (akin to L. Vicus village, E. Vicinity) + usage, law, rule, fr. To distribute, mange. See Vicinity, Nomad. Source: Websters Dictionary (01 Mar 1998)

Lexicographical Neighbors of Economy

economised economiser economises economising economism economist economists economization economizations economize

economized economizer economizers economizes economizing economy car economy model economy of scale economy rate economywide

econophysic econophysicist econophysicists econophysics econopolitics econut econuts ecophagy

Other Resources: