economy

CEFRB1

/ɪˈkɒ.nə.mi/

noun

Türkçe translations

Translating…

In plain English

  1. 01

    noun

    The system by which a country produces, sells, and uses goods.

  2. 02

    noun

    Careful use of money or resources to avoid waste.

Examples

  • A strong yen is shaking the economy.

  • Experts are forecasting a recovery in the economy.

At a glance

Sits at B1 on the CEFR scale

Senses
5
Parts of speech
1
Citations
3

Also pronounced

  • /ɛko.nɔmi/
  • /iːˈkɒ.nə.mi/

Deep Dive

noun

Extra meanings

  1. Effective management of a community or system, or especially its resources.

  2. The regular operation of nature in the generation, nutrition and preservation of animals or plants.

  3. System of management; general regulation and disposition of the affairs of a state or nation, or of any department of government.

More examples

In context

  • The fiscal austerity may lead to an overkill of the economy.

  • the economy of a poem

  • animal economy, vegetable economy

Quick test

Two questions on this entry. Nothing is scored.

Question 1 · Quick check

The country's blank grew rapidly after the new trade agreement.

Practise this properly in the app, where the word comes back before you forget it.

Nearby

Origin

noun

From Middle English yconomye, yconomy, borrowed via Old French [Term?] or Medieval Latin from Latin oeconomia, from Ancient Greek οἰκονομία (oikonomía, “management of a household, administration”), from οἶκος (oîkos, “house”) + νέμω (némō, “distribute, allocate”). By surface analysis, eco- + -nomy. The first recorded sense of the word economy, found in a work possibly composed in 1440, is “the management of economic affairs”, in this case, of a monastery.