economy

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 government

2.

a) careful management of wealth, resources, etc.; avoidance of waste by careful planning and use; thrift or thrifty use

b) restrained or efficient use of one's materials, technique, etc., esp. by an artist

c) an instance of such management or use, or a way of economizing

3. 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 wealth

b) 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]