Added 9 October 2026
economy
/ɪˈkɒ.nə.mi/ noun
Latin root: from First recorded: 1440 Wiktionary
noun Definition from WordNet 3.1, Princeton University. Pronunciation from Wiktionary, via Kaikki.org. More about economy at Wordnik → Where our words come from →
- The system of production and distribution and consumption.
-
The efficient use of resources.
economy of effort
-
Frugality in the expenditure of money or resources.
the Scots are famous for their economy
Origin
From Middle English yconomye, yconomy, borrowed via Old French yconomie or Medieval Latin from Latin oeconomia, from Ancient Greek οἰκονομία (oikonomía, “management of a household, administration”), from οἶκος (oîkos, “house”) + νέμω (némō, “distribute, allocate”). By surface analysis, eco- + -nomy. The first recorded sense of the word economy, found in a work possibly composed in 1440, is “the management of economic affairs”, in this case, of a monastery.
From Wiktionary, via Kaikki.org (CC BY-SA)