I. i-ˈkä-nə-mē, ə-, ē- noun
( plural -mies )
Etymology: Middle French yconomie, from Medieval Latin oeconomia, from Greek oikonomia, from oikonomos household manager, from oikos house + nemein to manage — more at vicinity , nimble
Date: 15th century
1. archaic : the management of household or private affairs and especially expenses
2.
a. : thrifty and efficient use of material resources : frugality in expenditures ; also : an instance or a means of economizing : saving
b. : efficient and concise use of nonmaterial resources (as effort, language, or motion)
3.
a. : the arrangement or mode of operation of something : organization
b. : a system especially of interaction and exchange
an economy of information
4. : the structure or conditions of economic life in a country, area, or period ; also : an economic system
II. adjective
Date: circa 1906
: designed to save money
economy cars