~An Economy.

An economy plainly encompasses all activities related to production, consumption and trade of goods and services in a given area. These decisions are made through some combination of market transactions and collective or hierarchical decision making.

DEFINITION AND MEANING OF AN ECONOMY ACCORDING TO MERRIAM WEBSTER.

1. The structure or conditions of economic life in a country, area, or period also: an economic system

2. A) Thrifty and efficient use of material resources: frugality in expenditures also: an instance or a means of economizing: saving

b) Efficient and concise use of non-material resources (such as effort, language, or motion)

3 a) the arrangement or mode of operation of something: organization

b) System especially of interaction and exchange an economy of information

4 Archaic: the management of household or private affairs; especially expenses.

DEFINITION OF AN ECONOMY ACCORDING TO COLLINS DICTIONARY.

~economy in British English

(ɪˈkɒnəmɪ )

1. Careful management of resources to avoid unnecessary expenditure or waste; thrift

2. A means or instance of this; saving

3. Sparing, restrained, or efficient use, especially to achieve the maximum effect for the minimum effort.

4. a) The complex of human activities concerned with the production, distribution, and consumption of goods and services

b) A particular type or branch of such production, distribution, and consumption

5. The management of the resources, finances, income, and expenditure of a community, business enterprise, etc.

6. A class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare

7. (Modifier) offering or purporting to offer a larger quantity for a lower price

8. The orderly interplay between the parts of a system or structure

9. The principle that, of two competing theories, the one with less ontological presupposition is to be preferred.

10. The management of household affairs; domestic economy

~economy in American English

(ɪˈkɑnəmi; iˈkɑnəmi)

1. The management of the income, expenditures, etc. of a household, business, community, or government

2. a) Careful management of wealth, resources, etc.; avoidance of waste by careful planning and use; thrift or thrifty use.

b) An instance of such management or use, or a way of economizing.

3. An orderly management or arrangement of parts; organization or system.

4. Providing more of a product at a lower unit price.

Economy in American English

(ɪˈkɑnəmi)

1. The management of the resources of a community, country, etc., especially with a view to its productivity.

2. The prosperity or earnings of a place.

3. The disposition or regulation of the parts or functions of any organic whole; an organized system or method.

4. The efficient, sparing, or concise use of something.

EXAMPLES OF ECONOMY IN A SENTENCE.

Economy

The economy was in terminal condition. The Guardian (2019)

All the other major economies made their own money in this ghostly way. The Guardian (2021)

Polling shows economic issues become less of a factor when the economy is on a sound footing. The Guardian (2018)

Investors cannot bet against the world's largest economy without giving up on the rest of the world. Times, Sunday Times (2016)

But the domestic economy's resilience should ensure that the manufacturing sector continues to hold up well over the next year or so. Times, Sunday Times (2016)

Only by talking up the economy would business leaders feel emboldened to invest. Times, Sunday Times (2013)

The slowing Chinese economy is lessening consumption. Times, Sunday Times (2016)

Over the past ten years the Nigerian economy has been growing fast.