English · Travel & Places
economy
/ɪˈkɒn.ə.mi/
[/ɪˈkɒn.ə.mi/]
system of money and trade
Advancednoun
Definition
The system by which a country produces, sells, and uses goods, services, and money.
Example
Tourism plays a huge role in the small island's economy, providing jobs for many residents.
Tourism plays a huge role in the small island's economy, providing jobs for many residents.
Etymology
From Greek 'oikonomia', household management, from 'oikos' (house) and 'nomos' (rule).
How & Where It’s Used
Central to economics and current affairs.