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Economy Money Government Based Noun ɪˈkɒnəmi ɪˈkɑːnəmi Recession

Word3 economy
WordType (noun)
Phonetic /ɪˈkɒnəmi/ /ɪˈkɑːnəmi/
Example
  • the economy is in recession.
  • the world/global economy
  • tourism clearly dominates the local economy.
  • he favours tax cuts to stimulate the economy.
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Content

economy

(noun)/ɪˈkɒnəmi/ /ɪˈkɑːnəmi/
  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.
Copyright This card's content is collected from the following dictionaries: Oxford Advanced Learner's Dictionary

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