economy
[noun]
Synonyms: thrift, frugality, husbandry, parsimony, prudence, restraint

---

Antonyms: extravagance
Contrasted words: improvidence, lavishness, prodigality, squandering, thriftlessness, wastefulness
Related Words: meanness, miserliness, niggardliness, parcity, parsimony, scrimping, skimping, stinginess, carefulness, discretion

[TahlilGaran] English Synonym Dictionary ▲

I. e‧con‧o‧my¹ S2 W1 AC /ɪˈkɒnəmi $ ɪˈkɑː-/ noun (plural economies)
[Word Family: noun: economics, economist, economy; adjective: economic, economical ≠ UNECONOMIC(AL), economy; verb: economize; adverb: economically ≠ uneconomically]
[Date: 1400-1500; Language: French; Origin: Greek oikonomia, from oikonomos 'manager of a house']

1. [countable] the system by which a country’s money and goods are produced and used, or a country considered in this way:
a successful economy
the slowdown in the Japanese economy

2. [countable] something that you do in order to spend less money:
The council must make economies to meet government spending targets.
Not insuring your belongings is a false economy (=it is cheaper but could have bad results).

3. [uncountable] the careful use of money, time, goods etc so that nothing is wasted:
The gas fire was turned low for reasons of economy.
The company announced that it would cut 500 jobs as part of an economy drive (=a way to save money).

4. economies of scale technical the financial advantages of producing something in very large quantities
⇒ black economy, market economy, mixed economy

[TahlilGaran] Dictionary of Contemporary English ▲

II. economy² adjective
[Word Family: noun: economics, economist, economy; adjective: economic, economical ≠ UNECONOMIC(AL), economy; verb: economize; adverb: economically ≠ uneconomically]
economy size/pack a product that is cheaper because you are buying a larger amount

[TahlilGaran] Dictionary of Contemporary English ▲

economy
noun
I. operation of a country's money supply
ADJ. booming, buoyant, dynamic, healthy, sound, stable, strong | ailing, depressed, flagging, fragile, stagnant, weak The government devalued the currency to try to revive the flagging economy.
advanced, developed, modern | agrarian, agricultural, capitalist, industrial, liberal, market, mixed, monetary, planned, rural, service-based, socialist a modern industrial economy
domestic, global, internal, international, local, national, world the increasingly competitive global economy
black, informal, underground The black economy booms when there is high unemployment.
VERB + ECONOMY build, rebuild Each party has its own strategy for building a strong economy.
control, handle, manage, manipulate, operate, regulate, run The government was accused of failing to run the economy competently.
boost, develop, expand, help, improve, kick-start, reinvigorate, rescue, revive, stabilize, stimulate, strengthen | liberalize | damage, harm, weaken, wreck
ECONOMY + VERB develop, expand, flourish, grow | be in/go into recession, collapse, contract, fail, slow, stagnate | pick up, recover, stabilize
PHRASES an area/a sector of the economy Transport workers are employed in all sectors of the economy.
the backbone/mainstay of the economy Agriculture was the backbone of the economy.
growth in/of the economy A small manufacturing sector inhibits growth in the economy.
control/handling/management of the economy 37% approved the president's handling of the economy.
the size of the economy, the state of the economy The government has been criticized over the state of the economy.
 ⇒ Special page at BUSINESS

[TahlilGaran] Collocations Dictionary ▲

economy
II. careful use of money/time/resources
ADJ. important, major, significant | false Buying cheap shoes is a false economy.
VERB + ECONOMY achieve, make We could achieve major economies in time with this new machinery.
ECONOMY + NOUN drive Savings are being planned as part of a huge economy drive.
PREP. ~ in possible economies in telephone costs
PHRASES economy of effort/movement It was impressive to see her economy of movement as she worked the machine.
economy of scale Large firms can benefit from economies of scale.

[TahlilGaran] Collocations Dictionary ▲

economy

strong/healthy/sound
The new government inherited a strong economy.
weak/ailing/depressed
The economy is weak and consumer confidence is low.
fragile (=weak and likely to become worse)
The country’s fragile economy depends almost exclusively on tourism.
stable (=steady, rather than being strong then weak)
The economy has been relatively stable for the last two or three years.
stagnant (=bad and not progressing or improving)
Measures aimed at reviving the stagnant economy are not working.
a flagging economy (=starting to become weaker)
The government must take action to boost the flagging economy.
a booming economy (=extremely strong and successful)
What can we learn from China’s booming economy?
the world/global economy
Rising oil prices threaten the world economy.
the local/national/domestic economy (=in one particular country or area)
The new factory has given a massive boost to the local economy.
the British/American/Japanese etc economy
The Japanese economy is showing signs of recovery.
a large/powerful economy
the world’s two most powerful economies
a small economy
Small economies like Kenya might struggle to survive in a global recession.
a developing economy (=one that is getting stronger and starting to include more modern industries)
Many developing economies are investing in sources of renewable energy.
an industrial economy (=one that is based mainly on industries producing goods or materials)
Expectations for growth in the main industrial economies remain low.
an agricultural/a rural economy (=one that is based mainly on farming)
The early 1920s saw a rapid expansion in the American agricultural economy.
a service economy (=one that is based mainly on selling services such as insurance or tourism)
Britain has shifted from a manufacturing to a service economy.
a market/free-market economy (=based on companies producing and selling products freely, without restrictions)
Eastern European countries were gradually making the transition to a market economy.
a capitalist/socialist economy (=based on a capitalist or socialist political system)
the large capitalist economies of western Europe
the black economy especially British English (=business activity in which people buy and sell goods illegally, without paying tax)
Illegal immigrants have to seek work in the black economy.
manage/handle the economy
Governments are judged on how well they manage the economy.
develop/expand the economy
The tax cut should help to expand the economy.
boost the economy (=make it stronger)
It is hoped that the Olympic Games will boost the country’s economy.
harm/damage the economy (=make it less successful)
Sanctions have damaged the economy.
destroy the economy
The floods last year destroyed the region’s economy.
the economy develops/expands/grows (=becomes more successful)
The economy grew by 3% last year.
the economy booms (=becomes very successful very quickly)
The economy is booming and share prices are at an all-time high.
the economy slows down
The US economy is slowing down after a long period of growth.
the economy recovers (=returns to normal condition after a period of trouble or difficulty)
The economy is beginning to recover from the recession.

[TahlilGaran] Collocations Dictionary ▲