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English definition of “economy”

economy

noun  /ɪˈkɑn·ə·mi/ us  

economy noun (SYSTEM)

social studies [C] the system of trade and industry by which the wealth of a country or region is made and used: Tourism contributes millions of dollars to the region’s economy.

economy noun (SAVING MONEY)

[U] the careful use and management of money or of time, energy, words, etc.: For the purpose of economy, you may prefer to use a cheaper cut of meat in this recipe.
(Definition of economy from the Cambridge Academic Content Dictionary © Cambridge University Press)
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