Definitions of economy

  1. the system of production and distribution and consumption
  2. an act of economizing; reduction in cost; " it was a small economy to walk to work every day"; " there was a saving of 50 cents"
  3. frugality in the expenditure of money or resources; " the Scots are famous for their economy"
  4. The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy.
  5. Orderly arrangement and management of the internal affairs of a state or of any establishment kept up by production and consumption; esp., such management as directly concerns wealth; as, political economy.
  6. Thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony.
  7. The regulation and management of means and resources; freedom from waste in the use of anything; thrift.
  8. The management, regulation, and government of a household: especially, the management of the pecuniary concerns of a household; hence, a frugal and judicious use of money: that management which expends money to advantage and incurs no waste: frugality in the necessary expenditure of money. It differs from parsimony, which implies an improper saving of expense. Economy includes also a prudent management of all the means by which property is saved or accumulated, a judicious application of time, of labor, and of the instruments of labor. " I have no other notion of economy than that it is the parent of liberty and ease," says Swift. Also the disposition or arrangement of any work: the system of rules and regulations which control any work, whether divine or human; as, " This economy must be observed in the minutest parts of an epic poem."- Dryden. Specifically, ( a) the operations of nature in the generation, nutrition, and preservation of animals and plants; the regular, harmonious system in accordance with which the functions of living animals and plants are performed; as, the animal economy. the vegetable economy. ( b) The regulation and disposition of the internal affairs of a state or nation, or of any department of government. " The Jews already had a Sabbath, which as citizens and subjects of that economy they were obliged to keep, and did keep."- Paley.
  9. Economical.
  10. Disposition to save; frugality; cheapness.
  11. Practical, systematic management of affairs.
  12. The management of the concerns of a household, especially in money matters; a frugal and judicious use of money; the disposition or arrangement of any work; a system of rules and ceremonies; the regular operations of nature in the generation, nutrition, and preservation of animals or plants; distribution or due order of things; judicious and frugal management of public affairs; the regulation and disposition of the affairs of a state or nation, or of any department of government.
  13. The frugal and prudent management of a family or household; frugality; the judicious management and arrangement of the affairs of a nation- the study of the best system for which is called political economy; a system of rules or regulations; the operations of nature in regard to animals or plants.
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