economic

Reading level: hard

Estimated CEFR level: B2 — Upper-Intermediate

Estimated from word frequency; not an official CEFR classification.

Definition

  1. adjective of or relating to an economy, the system of production and management of material wealth
  2. adjective of or relating to the science of economics
  3. adjective using the minimum of time or resources necessary for effectiveness

Etymology

The noun is derived from Middle English economike, iconomique (“household management”), and then: * from Middle French iconomique, oeconomique, and Old French iconomike (“(noun) household management; person in charge of household management; (adjective) relating to household management; relating to domestic or family matters; relating to management of a state; reducing costs or expenses, economical”) (modern French économique); and * from their etymon Latin oeconomicus (“(noun) household manager, housekeeper, steward; (adjective) relating to orderly arrangement of written material”) (whence Late Latin economicus (“relating to (management of) a household”)), and economica (“household management”), both from Ancient Greek οἰκονομῐκός (oikonomĭkós, “skilled in household management; frugal, thrifty, economical”) (whence Koine Greek οἰκονομῐκός (oikonomĭkós, “relating to orderly arrangement of written material”)); from οἰκονόμος (oikonómos, “master of a house; household manager, steward; administrator, manager”) + -ῐκός (-ĭkós, suffix meaning ‘of or relating to’ forming adjectives). Οἰκονόμος (Oikonómos) is derived from οἶκος (oîkos, “dwelling place, house; estate”) (ultimately from Proto-Indo-European *weyḱ- (“(verb) to enter in; to settle; (noun) settlement”)) + νόμος (nómos, “law, ordinance”) (from νέμω (némō, “to distribute; to possess”) (ultimately from Proto-Indo-European *nem- (“to distribute; to give; to take”)) + -ος (-os, suffix forming o-grade action nouns from verbs)). Noun sense 2.2 (“one who manages the income of a vacant benefice”) is from Italian economo, from Late Latin oeconomus (“housekeeper, steward; administrator, especially of a religious foundation”), from Ancient Greek οἰκονόμος (oikonómos, “master of a house; household manager, steward; administrator, manager”): see above. The adjective is derived from the noun; compare the adjective senses in Middle and Old French, Latin, and Ancient Greek. By surface analysis, economy + -ic.

In classic literature

Synonyms

economical

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