■ noun ( plural economies )
1》 the state of a country or area in terms of the production and consumption of goods and services and the supply of money.
↘a country or area having a particular ~: a free-market ~.
2》 careful management of available resources.
↘[as modifier ] offering good value for money: an ~ pack.
↘a financial saving.
3》 (also ~ class ) the cheapest class of air or rail travel.
Phrases
~ of scale a proportionate saving in costs gained by an increased level of production.
Origin
C15: from Fr. économie , or via L. from Gk oikonomia 'household management', based on oikos 'house' + nemein 'manage'.