economy
/iːˈkɒnəmi/economy
NOUNDefinition of economy
The economy is the use of the resources of a community or system.
Example: We wonder about the ability of our businesses to compete in the global economy.
Economy is the careful and minimal use of resources.
Example: The schools were closed for reasons of economy.
Economy is the section of the airplane with the smallest seats and cheapest ticket prices.
Example: We decided to fly business class instead of economy.
A market economy is an economy with free competition between businesses.
Example: China will continue to move towards a market economy.
economy
EXAMPLESExamples of economy
We wonder about the ability of our businesses to compete in the global economy.
Example sentenceThe economy was growing at a rate of 2% per year.
Example sentenceThe schools were closed for reasons of economy.
Example sentenceWe bought a small economy car.
Example sentenceWe decided to fly business class instead of economy.
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