Economy | Mean of economy in English Dictionary
/ɪˈkɑːnəmi/
- Noun
- the process or system by which goods and services are produced, sold, and bought in a country or region
- The war altered the country's economy.
- An increase in tourism will help the city's economy.
- We currently have a strong/weak economy. [=many/few goods and services are being produced, sold, and bought]
- the Mexican economy = Mexico's economy
- the world/global economy
- the region's fishing/information/retail economy
- People are worried about (the state of) the economy. [=their country's economy]
- changes in the economy
- careful use of money, resources, etc.
- We must learn to practice economy.
- a writer known for her economy of language [=her careful use of language; her use of only the words that are most necessary]
- cars with better fuel economy [=cars that use less fuel]
- something that makes it possible for you to spend less money
- We'll also benefit from the economies provided by more efficient energy sources.
- Mass production creates economies of scale. [=situations in which it costs less to produce something because you are producing a lot at one time]
- Using cheap materials proved to be a false economy. [=it cost less at first but resulted in more money being spent later]
- It would be false economy to repair the leak without replacing the pipe.
- designed to cost less money
- an economy car [=a car that costs less to buy, drive, maintain, etc.]
- an economy class ticket [=the least expensive kind of airline ticket]
- an economy-size bottle/bag/box [=a large bottle/bag/box that you buy for less money than it would cost to get the same amount in several smaller containers]