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- Dictionaryeconomy/ɪˈkɒnəmi/
noun
- 1. the state of a country or region in terms of the production and consumption of goods and services and the supply of money: "he favours tax cuts to stimulate the economy" Similar
- 2. careful management of available resources: "fuel economy" Similar Opposite
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May 16, 2024 · An economy is a system of interrelated production and consumption activities that ultimately determine the allocation of resources within a group. The production and...
ECONOMY definition: 1. the system of trade and industry by which the wealth of a country is made and used: 2. the…. Learn more.
The meaning of ECONOMY is the structure or conditions of economic life in a country, area, or period; also : an economic system. How to use economy in a sentence.
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources.
An economy is everything involved in managing resources in a particular place. Resources are things known as goods and services. Goods are touchable things we can own, like food or cars. Services are work you can do for pay, such as cooking food at a restaurant or repairing a car at a garage.
Definition of economy noun from the Oxford Advanced Learner's Dictionary. economy. noun. /ɪˈkɒnəmi/ /ɪˈkɑːnəmi/ (plural economies) (often the economy) [countable] the relationship between production, trade and the supply of money in a particular country or region. The economy is in recession.
Jun 17, 2024 · The economy is the total of all activities related to the production, sale, distribution, exchange, and consumption of limited resources by a group of people living...
ECONOMY meaning: 1 : the process or system by which goods and services are produced, sold, and bought in a country or region; 2 : careful use of money, resources, etc.
the system by which a country produces and uses goods and money: the German /US economy. a global economy. Fewer examples. the state of the economy. a strong economy. a weak economy. Increased tourism was a major boost to the local economy. The economy has been hit by high unemployment. economy noun (USING LESS)
Apr 4, 2024 · Economics is a social science that focuses on the production, distribution, and consumption of goods and services. The study of economics is primarily concerned with...
