1the state of a country or region in terms of the production and consumption of goods and services and the supply of money:he favours tax cuts to stimulate the economy
a particular system or stage of an economy:a free-market economy
2 [mass noun] careful management of available resources:fuel economy
[as modifier] offering good value for money:an economy pack of soap flakes
sparing or careful use of something:a technique based on economy of effort
[count noun] (usually economies) a financial saving:there were many economies to be made by giving up our London offices
3 (also economy class) the cheapest class of air or rail travel:we flew economy
economy of scale
a proportionate saving in costs gained by an increased level of production:mergers may lead to economies of scale
economy of scope
a proportionate saving gained by producing two or more distinct goods, when the cost of doing so is less than that of producing each separately.