economy
The system of trade and industry by which the wealth of a country or region is organized. it refers to how money, goods, and services are produced, sold, and bought.
Examples
3 of 5The local economy relies heavily on tourists visiting the beach.
The local economy relies heavily on tourists visiting the beach.
The government is introducing new policies to stabilize the national economy.
The government is introducing new policies to stabilize the national economy.
People say the economy is finally getting better this year.
People say the economy is finally getting better this year.
Synonyms
Word Family
Memory Tip
Think of the 'eco' in economy as 'everything counts' in the management of money.
Quick Quiz
The country's _____ is growing because more people are finding jobs.
Correct!
The correct answer is: economy
Examples
The local economy relies heavily on tourists visiting the beach.
everydayThe local economy relies heavily on tourists visiting the beach.
The government is introducing new policies to stabilize the national economy.
formalThe government is introducing new policies to stabilize the national economy.
People say the economy is finally getting better this year.
informalPeople say the economy is finally getting better this year.
Research shows that a circular economy can reduce environmental waste.
academicResearch shows that a circular economy can reduce environmental waste.
We must adapt our business strategy to the current global economy.
businessWe must adapt our business strategy to the current global economy.
Synonyms
Word Family
Common Collocations
Common Phrases
market economy
market economy
false economy
false economy
gig economy
gig economy
Often Confused With
Economy is the actual system of money and trade, while economics is the academic study of that system.
Usage Notes
Use 'the economy' when talking about the financial situation of a country. Use 'economy' as an adjective (e.g., economy size) to mean something is cheaper or larger for a lower price.
Common Mistakes
Learners often forget to use the article 'the' before 'economy' when talking about a country's finances.
Memory Tip
Think of the 'eco' in economy as 'everything counts' in the management of money.
Word Origin
From the Greek word 'oikonomia', which means 'household management'.
Grammar Patterns
Cultural Context
The state of the economy is a primary topic in news media and a major factor in political elections worldwide.
Quick Quiz
The country's _____ is growing because more people are finding jobs.
Correct!
The correct answer is: economy
Related Grammar Rules
Related Phrases
Related Vocabulary
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