Definition

Relating to something that is designed to save money or is inexpensive to buy or use.

Example

We decided to rent an economy car for our trip to save on fuel costs.

Comparatives & Superlatives

Conversation

Have you seen the new economy cars they’re advertising?

Yeah, they look really affordable and efficient!

I think I might get one since they save so much on gas.

That sounds like a smart choice; it’s great to be economy-conscious these days!

Synonyms & Antonyms

Definition

The system by which goods and services are produced, distributed, and consumed in a society.

Example

The economy is showing signs of recovery after the recession.

Conversation

Have you heard about the changes in our local economy?

Yeah, it seems like things are getting tougher for a lot of people.

I know, right? It's hard to believe how quickly the economy can shift.

Root Explanation

**Economy** → It is formed from "oikos" (meaning house or household) and "nomos" (meaning law or management). The word "economy" originally referred to the management of a household or the laws governing it, which has evolved to encompass the broader management of resources in a community or nation.

Memory Tip

Think of 'oikos' as a house and 'nomos' as management — this helps you remember that economy is about managing resources, just like managing a household.

Visually Confused Words