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economy noun

1 operation of a country's money supply

ADJ. booming, buoyant, dynamic, healthy, sound, stable, strong | ailing, depressed, flagging, fragile, stagnant, weak The government devalued the currency to try to revive the flagging economy. | advanced, developed, modern | agrarian, agricultural, capitalist, industrial, liberal, market, mixed, monetary, planned, rural, service-based, socialist a modern industrial economy | domestic, global, internal, international, local, national, world the increasingly competitive global economy | black, informal, underground The black economy booms when there is high unemployment.

VERB + ECONOMY build, rebuild Each party has its own strategy for building a strong economy. | control, handle, manage, manipulate, operate, regulate, run The government was accused of failing to run the economy competently. | boost, develop, expand, help, improve, kick-start, reinvigorate, rescue, revive, stabilize, stimulate, strengthen | liberalize | damage, harm, weaken, wreck

ECONOMY + VERB develop, expand, flourish, grow | be in/go into recession, collapse, contract, fail, slow, stagnate | pick up, recover, stabilize

PHRASES an area/a sector of the economy Transport workers are employed in all sectors of the economy. | the backbone/mainstay of the economy Agriculture was the backbone of the economy. | growth in/of the economy A small manufacturing sector inhibits growth in the economy. | control/handling/management of the economy 37% approved the president's handling of the economy. | the size of the economy, the state of the economy The government has been criticized over the state of the economy. > Special page at BUSINESS

2 careful use of money/time/resources

ADJ. important, major, significant | false Buying cheap shoes is a false economy.

VERB + ECONOMY achieve, make We could achieve major economies in time with this new machinery.

ECONOMY + NOUN drive Savings are being planned as part of a huge economy drive.

PREP. ~ in possible economies in telephone costs

PHRASES economy of effort/movement It was impressive to see her economy of movement as she worked the machine. | economy of scale Large firms can benefit from economies of scale.