/ ˌiːkəˈnɒmɪk; ˌekə-; NAmE -ˈnɑːm-/ adjective
1.
[ only before noun ] connected with the trade, industry and development of wealth of a country, an area or a society :
social, economic and political issues
economic growth / cooperation / development / reform
the government's economic policy
economic history
the current economic climate
2.
( of a process, a business or an activity ) producing enough profit to continue
SYN profitable
OPP uneconomic ➡ note at successful
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SYNONYMS
economic
financial ♦ commercial ♦ monetary ♦ budgetary
These words all describe activities or situations that are connected with the use of money, especially by a business or country.
economic
connected with the trade, industry and development of wealth of a country, an area or a society:
This book deals with the social, economic and political issues of the period.
financial
connected with money and finance:
She had got into financial difficulties.
•
Tokyo is a major financial centre.
commercial
connected with the buying and selling of goods and services.
monetary
( formal or finance ) connected with money, especially all the money in a country:
closer European monetary union
budgetary
( finance ) connected with a budget (= the money available or a plan of how it will be spent) .
PATTERNS AND COLLOCATIONS :
economic / financial / commercial / monetary / budgetary affairs / decisions / planning
the economic / financial / commercial / budgetary climate
the economic / financial / commercial / monetary side of sth
an economic / financial / commercial centre
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WHICH WORD
economic / economical
Economic means 'connected with the economy of a country or an area, or with the money that a society or an individual has':
the government's economic policy
•
the economic aspects of having children
.
— see also economy 1
Economical means 'spending money or using something in a careful way that avoids waste':
It is usually economical to buy washing powder in large quantities.
— see also economy 3
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WORD ORIGIN
late Middle English : via Old French and Latin from Greek oikonomikos , from oikonomia household management, based on oikos house + nemein manage. Originally a noun, the word denoted household management or a person skilled in this, hence the early sense of the adjective (late 16th cent.) relating to household management . Modern senses date from the mid 19th cent.