Meaning of economy In English

• 0 the system of trade and industry by which the wealth of a country is made and used:

  • the global economy

  • the German/US economy

  • the state of the economy

  • a weak/strong economy

  • Tourism contributes millions of pounds to the local economy.

• 1 the intentional saving of money or, less commonly, the saving of time, energy, words, etc.:

  • They've had to make economies since Nathan lost his job.

  • This can be done by machines with more speed and economy.

  • She writes with such economy - I've never known a writer say so much in so few words.

• 2 the system of trade and industry by which the wealth of a country or region is made and used:

  • Tourism contributes millions of dollars to the region’s economy.

• 3 the careful use and management of money or of time, energy, words, etc.:

  • For the purpose of economy, you may prefer to use a cheaper cut of meat in this recipe.

• 4 the system of making money and producing and distributing goods and services within a country or region:

  • On average, China accounts for almost half of the total export growth of East Asian economies.

  • The property and construction industries are no longer as dominant in the economy as they used to be.

  • India has one of the fastest-growing economies in the world.

  • the global/national/local economy Political leaders expressed concern at the effect of increasing oil prices on the global economy.

  • a booming/strong/robust economy

  • a slowing/weak/stagnant economy

  • an emerging/a developing/a developed economy Hong Kong, Singapore, South Korea, and Taiwan are often categorized as emerging economies.

  • stimulate/boost/jump-start the economy New legislation has boosted the rural economy as well as supporting local communities.

  • an economy grows/slows/recovers In the year to the second quarter of 2007, the UK economy grew by 3.1%.

  • a knowledge-/service-/cash-based economy

  • a slowdown/downturn in the economy The Society of Motor Manufacturers and Traders said the decline in sales reflected the downturn in the economy.

• 5 the fact of not spending more money, using more resources, etc. than you need to:

  • Many manufacturing processes have been outsourced to Eastern Europe for reasons of economy.

  • Higher licence fees can tempt commercial organizations to make economies on service quality.

• 6 →  economy class :

  • Executives at the firm now fly economy, rather than club class.

• 7 something that seems to be a good way of saving money but is not:

  • Going abroad without travel insurance is a false economy if you are ill and need costly medical treatment.