The Definition of Economy

Dictionary Definitions

Webster’s New Collegiate Dictionary. 1961.

ECONOMY [F. or L.; F. economie, fr. L. oeconomia household management, fr. Gr. oikonomia, fr. oikonomos a steward, fr. oikos house + a derivative of nemein to manage.]

1. The management or regulation of domestic or household affairs with special regard for costs; hence, management of the affairs of a community, estate, or establishment, and directly concerned with its maintenance or productiveness.

6. Theol.
1. The Creator’s plan; the design of Providence.
2. A special dispensation suited to the needs of a nation or period; as, the Mosaic economy.

(emphasis added)

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