Economic

Definition

Economic is an adjective that describes anything related to the economy, finance, or resources of a country, organization, or individual. It pertains to the management of resources, financial systems, and economic policies.

Parts of Speech

• Adjective

Pronunciation

American English

• IPA Pronunciation: /ˌiːkəˈnɑːmɪk/ or /ˌɛkəˈnɑːmɪk/
• Respelling: ee-kuh-NAH-mik or ek-uh-NAH-mik

British English

• IPA Pronunciation: /ˌiːkəˈnɒmɪk/ or /ˌɛkəˈnɒmɪk/
• Respelling: ee-kuh-NOM-ik or ek-uh-NOM-ik

Etymology

The word "economic" originates from the Ancient Greek "oikonomikos," meaning "skilled in household management," from "oikos" (house) and "nomos" (law or management). It evolved through Latin "oeconomicus" to Old French "economique" and entered English in the early 16th century.

Derivatives

• Economy (noun)
• Economist (noun)
• Economical (adjective)
• Economics (noun)
• Economize (verb)

Synonyms

• Financial
• Fiscal
• Monetary

Antonyms

• Noneconomic
• Unprofitable
• Wasteful

Usage

The adjective "economic" is widely used to describe matters related to financial systems, resources, or national and global economies. For example, "The government introduced economic policies to stimulate growth." It may also describe the efficiency of resource use, as in "an economic solution."

Related Terms

• Economy: The system of production, consumption, and distribution of goods and services.
• Finance: The management of money and investments.
• Trade: The exchange of goods and services, often across borders.

Detailed Definitions

Adjective

• Relating to the economy or financial systems: Describes matters connected with national, international, or personal finances.
  • Example: "Economic policies play a crucial role in shaping a country’s prosperity."
• Efficient in terms of resource use: Refers to solutions or processes that minimize waste and maximize effectiveness.
  • Example: "Solar energy is seen as an economic choice for sustainable power."