Economy Government Noun Bre ɪˈkɒnəmi ɪˈkɑːnəmi Recession World

• the economy is in recession.
• the world economy
• ireland was one of the fastest-growing economies in western europe in the 1990s.
• we need to make substantial economies.

economy

1. the relationship between production, trade and the supply of money in a particular country or region
• The economy is in recession.
• the world economy
2. a country, when you are thinking about its economic system
• See related entries: Economy
  https://www.oxfordlearnersdictionaries.com/topic/economy/economy_2
• Ireland was one of the fastest-growing economies in Western Europe in the 1990s.
3. the use of the time, money, etc. that is available in a way that avoids waste
• We need to make substantial economies.
• It's a false economy to buy cheap clothes (= it seems cheaper but it is not really since they do not last very long).
• She writes with a great economy of words (= using only the necessary words).
• We're on an economy drive at home (= trying to avoid waste and spend as little money as possible).
• Buy the large economy pack (= the one that gives you better value for money).
• to fly economy (class) (= by the cheapest class of air travel)
• an economy fare (= the cheapest)

Extra Examples

• A downturn in the economy is affecting many small businesses.
• A small manufacturing sector inhibits growth in the economy.
• Agriculture was the backbone of the economy.
• Bigger markets can provide significant economies of scale.
• Buying cheap shoes is a false economy.
• Cuba should have been able to diversify its economy.
• Drivers are needed in all sectors of the economy.
• Each party has its own strategy for building a strong economy.
• Government measures to slow the economy failed to curb fuel demand growth.
• In order for our bubble economy to continue expanding, Americans must continue spending.
• Income from this exported crop drove the economy of Mali.
• It has been a while since the economy experienced a deep economic downturn.
• It was impressive to see her economy of movement as she worked the machine.
• It’s the industry which keeps our national economy moving.
• Japan has successfully modernized its economy.
• Large firms can benefit from economies of scale.
• Savings are being planned as part of a huge economy drive.
• Should we be worried that a dollar crisis threatens the economy?
• The South African economy emerged from decades of international isolation.
• The black economy booms when there is high unemployment.
• The company has improved the fuel economy of all its vehicles.
• The economy is functioning very poorly.
• The economy is humming along at a healthy 4% pace.
• The government devalued the currency to try to revive the flagging economy.
• The government has been criticized over the state of the economy.
• The government was accused of failing to run the economy competently.
• The region has an economy based on services and finance.
• This massive retailer has been shaping the economy for a decade.
• Tourism clearly dominates the local economy.
• Transport workers are employed in all sectors of the economy.
• We could achieve major economies in time with this new machinery.
• We want to support the local economy.
• a modern industrial economy
• possible economies in telephone costs
• the increasingly competitive global economy

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.