|1.||[ noun ] (economics) the system of production and distribution and consumption|
|Related terms:||system industrialism non-market_economy state_capitalism mixed_economy state_socialism market_economy sector black_economy|
|2.||[ noun ] frugality in the expenditure of money or resources|
"the Scots are famous for their economy"
|Related terms:||frugality save|
|3.||[ noun ] (work) the efficient use of resources|
"economy of effort"
|Related terms:||efficiency save|
|4.||[ noun ] an act of economizing; reduction in cost|
"it was a small economy to walk to work every day" or "there was a saving of 50 cents"
|Related terms:||action retrenchment economies_of_scale economy_of_scale save|