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The Definition of Economy
Dictionary Definitions
ECONOMY [F. ['e]conomie, L. oeconomia household management, fr. Gr. ?, fr. ? one managing a household; ? house (akin to L. vicus village, E. vicinity) + ? usage, law, rule, fr. ne`mein to distribute, manage. See Vicinity, Nomad.]
- The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy.
Himself busy in charge of the household economies. Froude.
- Orderly arrangement and management of the internal affairs of a state or of any establishment kept up by production and consumption; esp., such management as directly concerns wealth; as, political economy.
- The system of rules and regulations by which anything is managed; orderly system of regulating the distribution and uses of parts, conceived as the result of wise and economical adaptation in the author, whether human or divine; as, the animal or vegetable economy; the economy of a poem; the Jewish economy.
(emphasis added)
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