Definition

In a way that relates to the management of resources, especially money, to avoid waste and ensure efficiency.

Example

The company operates economically to maximize profits and minimize costs.

Conversation

Have you thought about how we can travel economically?

Yeah, I was thinking we could use public transport instead of cabs.

That's a great idea! It will save us money and help us explore the city better.

Exactly, plus it feels more local and economically responsible.

Synonyms & Antonyms

Root Explanation

Economically → It is formed from "oikonomia" (from Greek, meaning household management or administration) and the suffix "-ally" (meaning in a manner relating to). The word "economically" refers to the manner in which resources are managed or utilized effectively, particularly in terms of finances.

Memory Tip

Think of 'household management' ('oikonomia') to remember that 'economically' means relating to the effective use of resources.

Visually Confused Words