Economic
Noun
UK
/ˌiː.kəˈnɒm.ɪk/
US
/ˌek.əˈnɑː.mɪk/
Definition
Related to money, trade, business, or the use of resources wisely.
Example
"The economic situation is difficult worldwide today."
"The country faced serious economic problems after the prices of food increased."
"Traveling by bus is more economic than flying, especially if you want to save money."
Explanation
“Economic” is an adjective related to money, trade, and the way goods and services are produced and used. For example, people may say “economic growth” when a country is earning more money and improving jobs. It can also describe something that saves money, like “an economic way of travelling” (meaning cheaper or more efficient). It is often used in business, government, and studies about how money works. You can think of it as anything connected with money, business, or saving costs.