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 economy economy /iːˈkɑːnəmi/

noun

  1. () The system of production and distribution and consumption  ( economic system , economy )
    the system of production and distribution and consumption
      The country's economy is experiencing rapid growth.
    The country's economy is experiencing rapid growth.
  2. () An act of economizing; reduction in cost  ( economy , saving )
    an act of economizing; reduction in cost
     It was a small economy to walk to work every day
    it was a small economy to walk to work every day
     There was a saving of 50 cents
    there was a saving of 50 cents
  3. () Frugality in the expenditure of money or resources  ( thriftiness , economy )
    frugality in the expenditure of money or resources
     The Scots are famous for their economy
    the Scots are famous for their economy
  4. () The efficient use of resources  ( economy )
    the efficient use of resources
     Economy of effort
    economy of effort