e|con|o|my

e|con|o|my «ih KON uh mee», noun, plural -mies, adjective.

–n.

1. a making the most of what one has; avoiding waste in the use of anything; thrift: »

By using economy in buying food and clothes, we were soon able to save enough money for the new car we needed.

2. an instance of this: »

The economy of going without a vacation bought new furniture for the house.

3. a managing of affairs and resources so as to avoid waste; management: »

Under President Franklin Roosevelt's administration, the country's economy improved greatly.

SYNONYM(S): husbandry.

4. the efficient arrangment of parts; organization; system.

5. a system of managing the production, distribution, and consumption of goods and services: »

feudal economy. A creative economy is the fuel of magnificence (Emerson).

6. Theology. the method of the divine administration of the world, especially as it affects a particular nation or time; dispensation: »

The economy of Heaven is dark, and wisest clerks have missed the mark (Charles Lamb).

–adj.

1. less expensive than others of its kind; economical: »

an economy car.

2. of or having to do with economy class: »

economy flights, economy fare.

3. = economy-size. (Cf. ↑economy-size)

╂[< Latin oeconomia < Greek oikonomíā < oikonómos one who manages a house < oîkos house + némein manage]