economy

e|con|o|my1 [ ı`kanəmi ] noun ***

1. ) count the system by which a country's trade, industry, and money are organized:

a modern, industrial economy

the high-growth economies of Southeast Asia

a market/capitalist/planned economy

a ) the whole of a country's business, industry, and trade, and the money that they produce:

Between 1982 and 1988 the economy grew at an average of about 3 percent per year.

boost/stimulate/revive the economy (=make it stronger): The government has promised to boost the flagging economy.

b ) a country considered as an economic system:

three of the fastest-growing economies in the Asia-Pacific region

2. ) uncount the careful use of money, products, or time so that very little is wasted:

In those days, fuel economy was a central factor in car design.

The audit will concentrate on the economy and efficiency of production.

a ) uncount the use of the smallest number of words or movements needed to express or do something well:

economy of: The play achieves its effects with a terrific economy of language.

b ) economies plural ways of saving money:

make economies: I'm sure, if we make a few economies, we'll be able to afford it.

=> ECONOMIES OF SCALE

c ) (a) false economy something that seems to save money but will really make you spend more:

Buying cheap tools is false economy.

3. ) uncount the cheapest seats on a plane

economy

e|con|o|my 2 [ ı`kanəmi ] adjective only before noun

1. ) economy goods are less expensive than normal goods, usually because you are buying larger quantities:

an economy package of paper towels

Try the new economy size.

2. ) economy travel is the least expensive type of air travel available