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English definition of “economy”

economy

noun uk   /ɪˈkɒn.ə.mi/ us    /-ˈkɑː.nə-/

economy noun (SYSTEM)

B2 [C] the system of trade and industry by which the wealth of a country is made and used: the global economy the German/US economy the state of the economy a weak/strong economy Tourism contributes millions of pounds to the country's economy.

economy noun (SAVING MONEY)

[C or U] the intentional saving of money or, less commonly, the saving of time, energy, words, etc.: They've had to make economies since Ian lost his job. This can be done by machines with more speed and economy. She writes with such economy - I've never known a writer say so much in so few words.
(Definition of economy from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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