economic

American  

[ek-uh-nom-ik, ee-kuh-] / ˌɛk əˈnɒm ɪk, ˌi kə- /

adjective

1. pertaining to the production, distribution, and use of income, wealth, and commodities.

2. of or relating to the science of economics.

3. pertaining to an economy, or system of organization or operation, especially of the process of production.

4. involving or pertaining to one's personal resources of money.

   to give up a large house for economic reasons.

5. pertaining to use as a resource in the economy.

   economic entomology; economic botany.

6. affecting or apt to affect the welfare of material resources.

   weevils and other economic pests.

7. economical.

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economic British  

/ ˌɛkə-, ˌiːkəˈnɒmɪk /

adjective

1. of or relating to an economy, economics, or finance

   economic development

   economic theories

2. capable of being produced, operated, etc, for profit; profitable

   the firm is barely economic

3. concerning or affecting material resources or welfare

   economic pests

4. concerned with or relating to the necessities of life; utilitarian

5. a variant of economical

6. informal inexpensive; cheap

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Other Word Forms

Derived Forms

• uneconomic
  adjective
• antieconomic
  adjective
• subeconomic
  adjective
• noneconomic
  adjective
• quasi-economic
  adjective
• preeconomic
  adjective

Etymology

Origin of economic

First recorded in 1585–95; from Middle French economique, from Latin oeconomicus, from Greek oikonomikós “relating to household management,” equivalent to oikonóm(os) “steward” (from oîko(s) “house” + nómos “manager”) + -ikos -ic

Explanation

If you describe something as economic, then it relates to the economy. And the economy? It's all about money, honey. The adjective economic, meaning “pertaining to management of a household,” first developed in the 1590’s and might remind you of "Home Economics" classes where you once learned to cook and sew. Usually though, we use economic to describe things relating to finance. It’s not the same as financial, but if you’re talking about a town or country whose finances are in dire straits, it’s ok to say "economic ruin."

Related Words

• budgetary
• commercial
• fiscal
• industrial
• monetary