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

Literary usage of Economy

Below you will find example usage of this term as found in modern and/or classical literature:

1. Encyclopaedia Britannica: A Standard Work of Reference in Art, Literature (1907)
"The best brief exposition of political economy, substantially in ... Better, iu some respects, than either is the Political economy of the American ..."

2. The Popular Science MonthlyScience (1893)
"Political economy. Earned decrease vs. the unearned increment (7 p.). ... Future of P. economy (Misc.), 30 : 425. Heat and motion and P. economy (3 p. ..."

3. The Contemporary Review (1875)
"If a student wishing to begin the study of Political economy were to take up one book, he would find it stated that Political economy is the science which ..."

4. The Catholic Encyclopedia: An International Work of Reference on the by Charles George Herbermann, Edward Aloysius Pace, Condé Bénoist Pallen, Thomas Joseph Shahan, John Joseph Wynne (1913)
"Where a household is not economically self-sufficing, that is, where households are economically interdependent, we have a broader economy. ..."

5. Publishers Weekly by Publishers' Board of Trade (U.S.), Book Trade Association of Philadelphia, American Book Trade Union, Am. Book Trade Association, R.R. Bowker Company (1874)
"Bowen's Am. Political economy, $2.50 Scr. Bryant & Stratton's Commercial ... $5 Apl. Smith's Political economy, $1.50 Put. Smith's Wealth of Nations, $7 . ..."

6. A Philosophical Dictionary by Voltaire (1824)
"economy (RURAL).* THE primitive economy, that which is the foundation of all the rest, is rural. In early times it was exhibited in the patriarchal life, ..."

7. Workforce 2000: Work and Workers for the 21st Century by DIANE Publishing Company, William B. Johnstone, Arnold E. Packer (1993)
"The most important trends will be: • Continued Integration of the World economy • Further Shifts of Production from Goods to Services • The Application of ..."

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