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  1. Dictionary
    e·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. Similar wealth(financial) resourcesfinancial systemfinancial state
    • 2. careful management of available resources: "even heat distribution and fuel economy" Similar thriftprovidenceprudencethriftinessOpposite extravagance

    adjective

    • 1. (of a product) offering the best value for the money: "an economy pack"

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  2. Mar 25, 2022 · An economy is the large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated. The production, consumption, and...

    • Will Kenton
    • 2 min
    • Vice President of Content
  3. Kids Definition of economy. 1 : the way in which goods and services are made, sold, and used in a country or area the city's economy. 2 : the careful use of money and goods : thrift With economy and restraint, they managed to live on their small income.

  4. Sep 15, 2021 · An economy is a system of organizations and institutions that either facilitate or play a role in the production and distribution of goods and services in a society.

    • 7 min
  5. www.investopedia.com › economy-4689801Economy - Investopedia

    Jun 27, 2022 · The economy is the total of all activities related to the production, sale, distribution, exchange, and consumption of limited resources by a group of people living and operating within it.

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