- economy [i kän′ə mē, ēkän′ə mē]n.pl. economies [L oeconomia < Gr oikonomia, management of a household or state, public revenue < oikonomos, manager < oikos, house (see ECO-) + -nomia, -NOMY]1. the management of the income, expenditures, etc. of a household, business, community, or government2.a) careful management of wealth, resources, etc.; avoidance of waste by careful planning and use; thrift or thrifty useb) restrained or efficient use of one's materials, technique, etc., esp. by an artistc) an instance of such management or use, or a way of economizing3. an orderly management or arrangement of parts; organization or system [the economy of the human body]4.a) a system of producing, distributing, and consuming wealthb) the condition of such a system [a healthy economy]adj.1. costing less than the standard or traditional kind [an economy car, an economy flight]2. providing more of a product at a lower unit price [an economy package]
English World dictionary. V. Neufeldt. 2014.