Economy Money Government Based Noun ɪˈkɒnəmi ɪˈkɑːnəmi Recession

• the economy is in recession.
• the world/global economy
• tourism clearly dominates the local economy.
• he favours tax cuts to stimulate the economy.

economy

1. the relationship between production, trade and the supply of money in a particular country or region
• SEE ALSO black economy
  https://www.oxfordlearnersdictionaries.com/definition/english/the-black-economy
• The economy is in recession.
• the world/global economy
• Tourism clearly dominates the local economy.
• He favours tax cuts to stimulate the economy.
• to boost/revive/grow the economy
• Over the past few years, the country's economy has grown at a record pace.

Extra Examples

• A downturn in the economy is affecting many small businesses.
• Agriculture was the backbone of the economy.
• Cuba should have been able to diversify its economy.
• Each party has its own strategy for building a strong economy.
• It's the industry which keeps our national economy moving.
• Japan successfully modernized its economy.
• Income from this exported crop drove the economy of Mali.
• Government measures to slow the economy failed to curb fuel demand growth.
• A small manufacturing sector inhibits growth in the economy.
• In order for our bubble economy to continue expanding, Americans must continue spending.
• Should we be worried that a dollar crisis threatens the economy?
• The South African economy emerged from decades of international isolation.
• The government devalued the currency to try to revive the flagging economy.
• The region has an economy based on services and finance.
• This massive retailer has been shaping the economy for a decade.
• a modern industrial economy
• Transport workers are employed in all sectors of the economy.
• The government has been criticized over the state of the economy.
• The economy is booming.
• the current slowdown/growth in the economy
• Immigrants are paying taxes and contributing to the economy.
2. a country, when you are thinking about its economic system
• Ireland was one of the fastest-growing economies in Western Europe in the 1990s.
• emerging economies (= that are starting to grow)
• developed economies
3. the use of resources in a way that avoids waste
• The company has improved the fuel economy of all its vehicles.
• It's a false economy to buy cheap clothes (= it seems cheaper but it is not really since they do not last very long).
• We're on an economy drive at home (= trying to avoid waste and spend as little money as possible).
4. offering good value for money
• Buy the large economy pack.
5. ways of saving money
• We need to make substantial economies.
• Large firms can benefit from economies of scale (= by producing many items the cost of producing each one is reduced).
• possible economies in phone costs
6. a way of using as little of something as possible
• a technique based on economy of effort
• She writes with a great economy of words (= using only the necessary words).
• It was impressive to see her economy of movement as she worked the machine.
7. the cheapest class of air travel
• We flew economy.
• an economy fare/ticket/seat/passenger

Word Origin

• late 15th cent. (in the sense ‘management of material resources’): from French économie, or via Latin from Greek oikonomia ‘household management’, based on oikos ‘house’ + nemein ‘manage’. Current senses date from the 17th cent.