Webster's English Dictionary

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economy

econ.o.my \i-'ka:n-*-me-\ n or economies [MF yconomie, fr. ML oeconomia, 
   fr. Gk oikonomia, fr. oiko] pl nomos household manager, fr. oikos house + 
   nemein to manage - more at VICINITY, NIMBLE archaic  1: the management of 
   household or private affairs and esp. expenses  2a: thrifty use of material 
   resources : frugality in expenditures; als o : an instance or a means of 
   economizing 2b: the efficient and sparing use of the means available for 
   the end propos ed 3: the system of arrangement or mode of operation or 
   functioning of somethi ng : ORGANIZATION 4: the structure of economic life 
   in a country, area, or period; specif)X : an economic system