economy - Meaning in Konkani

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economy - Meaning in Konkani

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Definitions and Meaning of economy in English

economy noun

1. an act of economizing; reduction in cost

   Synonyms

   saving

   Examples

   • "it was a small economy to walk to work every day"
   • "there was a saving of 50 cents"
2. frugality in the expenditure of money or resources

   Synonyms

   thriftiness

   Example

   • "the Scots are famous for their economy"
3. the efficient use of resources

   Example

   • "economy of effort"
4. the system of production and distribution and consumption

   Synonyms

   economic system

Description

An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone.

Also see "Economy" on Wikipedia

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