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English definition of “economize”

economize

verb [I] (UK also economise)     /ɪˈkɒnəmaɪz/
to make an effort to save money, time, resources, etc.: Shoppers are going for less expensive food in an effort to economize. Outsourcing is mostly used as an economizing strategy. The different stages of production are placed in close proximity, thereby economizing on transport costs.
(Definition of economize verb from the Cambridge Business English Dictionary © Cambridge University Press)
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