Main Entry:: ¹econ·o·my
Pronunciation:: \i-ˈkä-nə-mē, ə-, ē-\
Function:: noun
Inflected Form(s):: plural econ·o·mies
Etymology:: Middle French yconomie, from Medieval Latin oeconomia, from Greek oikonomia, from oikonomos household manager, from oikos house + nemein to manage — more at vicinity, nimble
Date:: 15th century

1archaic : the management of household or private affairs and especially expenses2 a: thrifty and efficient use of material resources : frugality in expenditures ; also : an instance or a means of economizing : saving b: efficient and concise use of nonmaterial resources (as effort, language, or motion)3 a: the arrangement or mode of operation of something : organization b: a system especially of interaction and exchange <an economy of information>4: the structure or conditions of economic life in a country, area, or period ; also : an economic system

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