economy (n.)

1530s, "household management," from Latin oeconomia (source of French économie, Spanish economia, German Ökonomie, etc.), from Greek oikonomia "household management, thrift," from oikonomos "manager, steward," from oikos "house, abode, dwelling" (cognate with Latin vicus "district," vicinus "near;" Old English wic "dwelling, village," from PIE root *weik- (1) "clan") + nomos "managing," from nemein "manage" (from PIE root *nem- "assign, allot; take"). Meaning "frugality, judicious use of resources" is from 1660s. The sense of "wealth and resources of a country" (short for political economy) is from 1650s.

Origin and meaning of economy

economy (adj.)

1821 as a term in advertising, at first meant simply "cheaper," then "bigger and thus cheaper per unit or amount" (1950). See economy (n.).

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Definitions of economy from WordNet

economy (n.)
the system of production and distribution and consumption;
Synonyms: economic system
economy (n.)
the efficient use of resources;
economy of effort
economy (n.)
frugality in the expenditure of money or resources;
the Scots are famous for their economy
Synonyms: thriftiness
economy (n.)
an act of economizing; reduction in cost;
it was a small economy to walk to work every day
Synonyms: saving