Economy (noun)
Definition
Economy refers to the system of production, distribution, and consumption of goods and services within a region, country, or world. It encompasses various aspects such as trade, industry, finance, and the overall management of resources to meet the needs and wants of individuals, businesses, and society as a whole.
Etymology
The term “economy” derives from the Greek word “oikonomia,” which means “household management” or “administration of a household.” It combines the words “oikos” (house) and “nomos” (law or rule). Over time, the concept expanded to include the management of larger social units, such as cities, regions, and nations.
Synonyms
The financial system, economic system, commerce, trade, market, fiscal system.
Antonyms
Inefficiency, wastefulness, extravagance.
FAQs(Frequently Asked Questions)
What is economy as a noun?
Economy, as a noun, refers to the system of production, distribution, and consumption of goods and services within a region, country, or the world.
How do you use economy in a sentence noun?
- The country’s economy experienced a significant downturn due to the global recession.
- The government is implementing measures to stimulate the economy and promote economic growth.
Which type of noun is economic?
The noun “economic” is an attributive noun, specifically an adjective used to describe or modify other nouns in relation to the economy or economics.
What is use in a sentence as a noun?
- “The use of technology has revolutionized various industries.”
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