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- DictionaryE·con·o·my/ēˈkänəmē/
noun
- 1. the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.
- 2. careful management of available resources: "even heat distribution and fuel economy"
adjective
- 1. (of a product) offering the best value for the money: "an economy pack"
Economy definition: the complex of activities related to the consumption, production, and trade of goods and services, as an ongoing functioning system. See examples of ECONOMY used in a sentence.
v. t. e. An economy [a] is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. [3] A given economy is a set of processes ...
Definition of economy noun from the Oxford Advanced Learner's Dictionary. economy. noun. /ɪˈkɒnəmi/ /ɪˈkɑːnəmi/ (plural economies) (often the economy) [countable] the relationship between production, trade and the supply of money in a particular country or region. The economy is in recession.
ECONOMY meaning: 1 : the process or system by which goods and services are produced, sold, and bought in a country or region; 2 : careful use of money, resources, etc.
noun. /ɪˈkɑnəmi/ (pl. economies) the economy [countable] the relationship between production, trade, and the supply of money in a particular country or region The economy is in a recession. the world economy a market economy (= one in which the price is fixed according to both cost and demand) see consumer economy. Join us.
noun. uk / ɪˈkɒnəmi / us. economy noun (SYSTEM) Add to word list. B2. the system by which a country produces and uses goods and money: the German /US economy. a global economy. Fewer examples. the state of the economy. a strong economy. a weak economy. Increased tourism was a major boost to the local economy.
Dec 15, 2023 · The economy is the total of all activities related to the production, sale, distribution, exchange, and consumption of limited resources by a group of...
