# economic

Pronunciation: say "ee-kuh-NO-mik" US /ˌikəˈnɑmɪk/, UK /ˌiːkəˈnɒmɪk/

## Adjective

1. Relating to the economy (how a country or region produces, trades and uses goods, services and money) or to economics, the study of it.
   - Simple: About money, trade and business in a country or area, or about the study of these things.
   - _The new policy is expected to boost economic activity across the region._
   - _Analysts warned that economic instability could spread to neighboring markets._
2. Able to pay its way: bringing in enough profit, or cutting costs enough, that an activity is worth starting or keeping up.
   - Simple: Earning or saving enough money to be worth doing or keeping going.
   - _At current oil prices, drilling in the deep offshore fields is barely economic._
   - _The mill reopened once higher lumber prices made it economic to run the saws again._
3. Giving good value for the cost; thrifty in the use of money or resources.
   - Simple: Not wasting money, and giving good value for what you pay.
   - _The new schedule makes more economic use of staff time, so fewer hours are lost to waiting around._
   - _By switching to thinner packaging, the company made more economic use of cardboard and cut its shipping weight._

## Adjective

4. Relating to the running and management of a household and its domestic affairs. *(obsolete)*
   - Simple: Having to do with running a home and its everyday affairs.

## Origin

Its oldest source is Ancient Greek οἰκονομικός (oikonomikós), 'skilled with household management', which Latin took as oeconomicus; Middle French economique then passed it on to English.

Source: DictionaryAI, https://dictionaryai.com/define/economic (written from Wiktionary data, CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/).