Definition of Economy

Economy
Transport service established for the carriage of passengers at fares and quality of service below that of coach service. (BTS5)

Economy
activities related to the production and distribution of goods and services in a particular geographic region (see GDP).

economy
a group of people interacting with one another for their lives, individuals make up the whole economy

Economy
(n.)
Thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony.
  
(n.)
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.
  
(n.)
The management of domestic affairs; the regulation and government of household matters; especially as they concern expense or disbursement; as, a careful economy.
  
(n.)
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.
  

economy

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Noun
1. the system of production and distribution and consumption
(synonym) economic system
(hypernym) system, scheme
(hyponym) industrialism
(part-meronym) sector
2. the efficient use of resources; "economy of effort"
(hypernym) efficiency
(derivation) save, economize, economise
3. frugality in the expenditure of money or resources; "the Scots are famous for their economy"
(synonym) thriftiness
(hypernym) frugality, frugalness
(derivation) save, economize, economise
4. an act of economizing; reduction in cost; "it was a small economy to walk to work every day"; "there was a saving of 50 cents"
(synonym) saving
(hypernym) action
(hyponym) retrenchment, curtailment, downsizing
(derivation) save, economize, economise

ECONOMY
Economy, (n.)

Purchasing the barrel of whiskey that you do not need for the price of the cow that you cannot afford.
  

economy

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economy
\e*con"o*my\ (?), n.; pl. economies (#). [f. économie, 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.]
1. 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.
2. 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.
3. 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. the position which they [the verb and adjective] hold in the general economy of language. in the greek poets, as also in plautus, we shall see the economy of poems better observed than in terence. jonson. the jews already had a sabbath, which, as citizens and subjects of that economy, they were obliged to keep.
4. thrifty and frugal housekeeping; management without loss or waste; frugality in expenditure; prudence and disposition to save; as, a housekeeper accustomed to economy but not to parsimony.

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  similar words(4) 

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 non-market economy 
 laissez-faire economy 
 token economy 
 political economy 

economy
eacnamaíocht

Dryd
Dryd = n. economy, a. thrifty

Trefnidedd
Trefnidedd = n. economy

Trefnyddiaeth
Trefnyddiaeth = n. economy; Methodism

Economy
System of production, distribution, and consumption of goods.

47339
State: INDIANA
City: ECONOMY

Economy
The ratio between a product or service and its value. See fuel economy .

ECON
Economy

economy
frugalitas

Economy
yeht-iskan'es (efficient use); iskan (system)

ECONOMY
The organization of production and distribution of goods and services within a sociocultural system.

chapter 04
Article 43 [Principles]
The economy of the Islamic Republic of Iran, with its objectives of achieving the economic
independence of the society, uprooting poverty and deprivation, and fulfilling human needs in the
process of development while preserving human liberty, is based on the following criteria:
1. the provision of basic necessities for all citizens: housing, food, clothing, hygiene, medical
treatment, education, and the necessary facilities for the establishment of a family;
2. ensuring conditions and opportunities of employment for everyone, with a view to attaining
full employment; placing the means of work at the disposal of everyone who is able to work but
lacks the means, in the form of cooperatives, through granting interest-free loans or recourse to
any other legitimate means that neither results in the concentration or circulation of wealth in the
hands of a few individuals or groups, nor turns the government into a major absolute employer.
These steps must be taken with due regard for the requirements governing the general economic
planning of the country at each stage of its growth;
3. the plan for the national economy must be structured in such a manner that the form, content,
and hours of work of every individual will allow him sufficient leisure and energy to engage,
beyond his professional endeavor, in intellectual, political, and social activities leading to allround
development
of his self, to take active part in leading the affairs of the country, improve his skills, and to make
full use of his creativity;
4. respect for the right to choose freely an occupation; refraining from compelling anyone to
engage in a particular job; and preventing the exploitation of another's labor;
5. the prohibition of infliction of harm and loss upon others, monopoly, hoarding, usury, and
other illegitimate and evil practices;
6. the prohibition of extravagance and wastefulness in all matters related to the economy,
including consumption, investment, production, distribution, and services;
7. the utilization of and the training of skilled personnel in accordance with the developmental
needs of the country's economy;
8. prevention of foreign economic domination over the country's economy:
9. emphasis on increase of agricultural, livestock, and industrial production in order to satisfy
public needs and to make the country self-sufficient and free from dependence.
Article 44 [Sectors]
(1) The economy of the Islamic Republic of Iran is to consist of three sectors: state, cooperative,
and private, and is to be based on systematic and sound planning.
(2) The state sector is to include all large-scale and mother industries, foreign trade, major
minerals, banking, insurance, power generation, dams, and large-scale irrigation networks, radio
and television, post, telegraph and telephone services, aviation, shipping, roads, railroads and the
like; all these will be publicly owned and adMinistered by the State.
(3) The cooperative sector is to include cooperative companies and enterprises concerned with
production and distribution, in urban and rural areas, in accordance with Islamic criteria.
(4) The private sector consists of those activities concerned with agriculture, animal husbandry,
industry, trade, and services that supplement the economic activities of the state and cooperative
sectors.
(5) Ownership in each of these three sectors is protected by the laws of the Islamic Republic, in
so far as this ownership is in conformity with the other articles of this chapter, does not go
beyond the bounds of Islamic law, contributes to the economic growth and progress of the
country and does not harm society.
(6) The scope of each of these sectors as well as the regulations and conditions governing their
operation, will be specified by law.
Article 45 [Public Wealth]
Public wealth and property, such as uncultivated or abandoned land, mineral deposits, seas, lakes,
rivers and other public waterways, mountains, valleys, forests, marshlands, natural forests,
unenclosed pastures, legacies without heirs, property of undetermined ownership, and public
property recovered from usurpers, shall be at the disposal of the Islamic government for it to
utilize in accordance with the public interest. Law will specify detailed procedures for the
utilization of each of the foregoing items.
Article 46 [Fruits of Business]
Everyone is the owner of the fruits of his legitimate business and labor, and no one may deprive
another of the opportunity of business and work under the pretext of his right to ownership.
Article 47 [Private Property]
Private ownership, legitimately acquired, is to be respected. The relevant criteria are determined
by law.
Article 48 [Resources for Regions]
There must be no discrimination among the various provinces with regard to the exploitation of
natural resources, utilization of public revenues, and distribution of economic activities among
the various provinces and regions of the country, thereby ensuring that every region has access to
the necessary capital and facilities in accordance with its needs and capacity for growth.
Article 49 [Confiscation]
The government has the responsibility of confiscating all wealth accumulated through usury,
usurpation, bribery, embezzlement, theft, gambling, misuse of endowments, misuse of
government contracts and transactions, the sale of uncultivated lands and other resources subject
to public ownership, the operation of centers of corruption, and other illicit means and sources,
and restoring it to its legitimate owner; and if no such owner can be identified, it must be
entrusted to the public treasury. This rule must be executed by the government with due care,
after investigation and furnishing necessary evidence in accordance with the law of Islam.
Article 50 [Preservation of the Environment]
The preservation of the environment, in which the present as well as the future generations have a
right to flourishing social existence, is regarded as a public duty in the Islamic Republic.
Economic and other activities that inevitably involve pollution of the environment or cause
irreparable damage to it are therefore forbidden.
Article 51 [Taxation]
No form of taxation may be imposed except in accordance with the law. Provisions for tax
exemption and reduction will be determined by law.
Article 52 [Budget]
The annual budget of the country will be drawn up by the government in the manner specified by
law and submitted to the Islamic Consultative Assembly for discussion and approval. Any change
in the figures contained in the budget will be in accordance with the procedure prescribed by law.
Article 53 [Central Treasury]
All sums collected by the government will be deposited into the government accounts at the
central treasury, and all disbursements, within the limits of allocations approved, shall be made in
accordance with law.
Article 54 [Accounting Agency]
The National Accounting Agency is to be directly under the supervision of the Islamic
Consultative Assembly. Its organization and mode of operation in Tehran and at the provincial
capitals are to be determined by law.
Article 55 [Auditing, Report]
The National Accounting Agency will inspect and audit, in the manner prescribed by law, all the
accounts of ministries, government institutions, and companies as well as other organizations that
draw, in any way, on the general budget of the country, to ensure that no expenditure exceeds the
allocations approved and that all sums are spent for the specified purpose. It will collect all
relevant accounts, documents, and records, in accordance with law, and submit to the Islamic
Consultative Assembly a report for the settlement of
each year's budget together with its own comments. This report must be made available to the
public.

Economy

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