economy
UK: ɪˈkɒnəmi | US: ɪˈkɑːnəmi
n. 1. The system of production, distribution, and consumption of goods and services in a region or country.
n. 2. Careful management of resources to avoid waste.
n. 3. A financial saving or efficiency measure.
economy = eco<house> + nomy<management>
- eco: From Greek oikos (house, household), referring to the domestic or communal sphere.
- nomy: From Greek nomos (law, management), indicating systematic control or governance.
Etymology Origin:
The word economy traces back to Greek oikonomia (household management), combining oikos (house) and nomos (law). Originally, it described the stewardship of domestic resources. By the 15th century, it expanded to national-scale resource systems, reflecting its modern macroeconomic sense. The shift from domestic thrift to large-scale systems mirrors societal organization’s evolution.
The country’s economy relies heavily on agriculture.
She practices economy by reusing old containers.
Buying in bulk is an economy for large families.
The new policy aims to boost the digital economy.
His essay discusses the moral economy of medieval villages.