economy meaning
economy :
system of trade, financial system
noun
▪ The economy is growing fast.
▪ The trade system is growing fast.
▪ A strong economy helps everyone.
▪ A strong trade system helps everyone.
paraphrasing
▪ market – trade system
▪ finance – money system
▪ commerce – buying and selling
▪ trade – exchange of goods
Pronunciation
economy [ɪˈkɒnəmi]
The stress is on 'con' and sounds like 'ih-kon-uh-mee'.
Common phrases and grammar about economy
economy - Common meaning
noun
system of trade, financial system
Part of Speech Changes for "economy"
▪ economic (adjective) – related to the economy
▪ economically (adverb) – in a way related to the economy
▪ economist (noun) – a person who studies the economy
▪ economize (verb) – to save money
Common Expressions with "economy"
▪ strong economy – good trade system
▪ global economy – world trade system
▪ local economy – city or town trade system
▪ economy of scale – cost advantage
Important examples of economy in TOEIC
Vocabulary examples from the TOEIC test
In TOEIC vocabulary questions, economy often refers to the financial system of a country.
Example of a confusing word: economic (related to the economy)
Grammar examples from the TOEIC test
Economy is often used as a noun in TOEIC grammar questions, focusing on its role in sentences.
economy
Idioms and fixed expressions in TOEIC
boost the economy
'improve the trade system', used in discussions about growth.
economy class
means 'a cheaper way to travel', used in airlines.
Differences between similar words and economy
economy
,
market
differences
Economy refers to the whole system of trade, while market refers to a place or area for buying and selling.
economy
,
finance
differences
Economy is the system of trade, while finance is the management of money.
Words with the same origin as economy
The origin of economy
The word economy comes from the Greek 'oikonomia', meaning household management.
Word structure
It has the prefix eco (house), root nom (law), and suffix y (noun), meaning 'house law'.
Words with the same origin
The root of economy is nom (law). Words with the same root include autonomy (self-law) and astronomy (star-law).
