Economy - Definition

n 1: the system of production and distribution and consumption
[syn: economy, economic system]
2: the efficient use of resources; "economy of effort"
3: frugality in the expenditure of money or resources; "the
Scots are famous for their economy" [syn: economy,
thriftiness]
4: an act of economizing; reduction in cost; "it was a small
economy to walk to work every day"; "there was a saving of 50
cents" [syn: economy, saving]