n.
 (pl. economies)
   - the state of a country or area in terms of the production and consumption of goods and services and the supply of money. 
▸a country or area having a particular economy:
 a free-market economy.
 - careful management of available resources. 
▸
[
as modifier]
 offering good value for money:
 an economy pack.
  ▸a financial saving.
 - 
(also economy class)
 the cheapest class of air or rail travel.
 
 
  Phrase
  
    
      - economy of scale
 a proportionate saving in costs gained by an increased level of production. 
    
   
  Etymology
  C15: from Fr. économie, or via L. from Gk oikonomia ‘household management’, based on oikos ‘house’ + nemein ‘manage’.