economic

Definitions

  • WordNet 3.6
    • adj economic using the minimum of time or resources necessary for effectiveness "an economic use of home heating oil","a modern economical heating system","an economical use of her time"
    • adj economic financially rewarding "it was no longer economic to keep the factory open","have to keep prices high enough to make it economic to continue the service"
    • adj economic concerned with worldly necessities of life (especially money) "he wrote the book primarily for economic reasons","gave up the large house for economic reasons","in economic terms they are very privileged"
    • adj economic of or relating to the science of economics "economic theory"
    • adj economic of or relating to an economy, the system of production and management of material wealth "economic growth","aspects of social, political, and economical life"
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Webster's Revised Unabridged Dictionary
    • Economic avoiding waste; as, an economical meal. Opposite of wasteful.
    • Economic Managed with frugality; not marked with waste or extravagance; using the minimum of time or effort or resources required for effectiveness; frugal; -- said of acts; saving; as, an economical use of money or of time; an economic use of home heating oil.
    • Economic Managing with frugality; guarding against waste or unnecessary expense; careful and frugal in management and in expenditure; -- said of character or habits. "Just rich enough, with economic care,
      To save a pittance."
    • Economic of or pertaining to economics.
    • Economic of or pertaining to the national or regional economy; relating to political economy; relating to the means of living, or the resources and wealth of a country; relating to the production or consumption of goods and services of a nation or region; as, economic growth; economic purposes; economical truths; an economic downturn. "These matters economical and political.""There was no economical distress in England to prompt the enterprises of colonization.""Economic questions, such as money, usury, taxes, lands, and the employment of the people."
    • Economic Pertaining to the household; domestic. "In this economical misfortune [of ill-assorted matrimony"
    • Economic profitable. Opposite of uneconomic.
    • Economic Regulative; relating to the adaptation of means to an end.
    • Economic Relating to domestic economy, or to the management of household affairs. "And doth employ her economic art
      And busy care, her household to preserve."
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Century Dictionary and Cyclopedia
    • economic Relating or pertaining to the household; domestic.
    • economic Pertaining to the regulation of household concerns.
    • economic Pertaining to pecuniary means or concerns; relating to or connected with income and expenditure: as, his economic management was bad; he was restrained by economic considerations; the economic branches of government.
    • economic Of or pertaining to economics, or the production, distribution, and use of wealth; relating to the means of living, or to the arts by which human needs and comforts are supplied: as, an economic problem; economic disturbances; economic geology or botany.
    • economic Characterized by freedom from wastefulness, extravagance, or excess; frugal; saving; sparing: as, economic use of money or of material.
    • economic = Syn.5. Saving, sparing, careful, thrifty, provident.
    • n economic etc. Obsolete forms of economic, etc.
    • economic Relating to value as viewed from the standpoint of material welfare in contrast with values of other orders. Thus higher education may represent an economic loss to the community, although the social and moral advantages derived from it far outweigh that loss.
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Chambers's Twentieth Century Dictionary
    • adjs Economic pertaining to economy: frugal: careful
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Quotations

  • Eli Cass
    Eli Cass
    “Middle age is when a guy keeps turning off lights for economical rather than romantic reasons.”
  • Sir Matthew Hale
    Sir Matthew Hale
    “The more business one has, the more you are able to accomplish, for you learn to economize your time.”
  • Alexander Douglas Home
    Alexander Douglas Home
    “There are only two problems in my life. The political ones are insoluble and the economic ones are incomprehensible.”
  • John Kenneth Galbraith
    John%20Kenneth%20Galbraith
    “In economics the majority is always wrong.”
  • John F. Kennedy
    John%20F.%20Kennedy
    “Economic growth without social progress lets the great majority of people remain in poverty, while a privileged few reap the benefits of rising abundance.”
  • Charles Sawyer
    Charles Sawyer
    “Profit is the ignition system of our economic engine.”

Idioms

Economical with the truth - (UK) If someone, especially a politician, is economical with the truth, they leave out information in order to create a false picture of a situation, without actually lying.
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Etymology

Webster's Revised Unabridged Dictionary
F. économique, L. oeconomicus, orderly, methodical, Gr. economical. See Economy
Chambers's Twentieth Century Dictionary
L. œconomia—Gr. oikonomiaoikos, a house, nomos, a law.

Usage

In literature:

The Economic Strength of other Trusts.
"The Evolution of Modern Capitalism" by John Atkinson Hobson
There is no real freedom which is not economic freedom.
"British Socialism" by J. Ellis Barker
We must attain complete economic domination of the Far East.
"China, Japan and the U.S.A." by John Dewey
Economic Competition and the Economic Equilibrium.
"Introduction to the Science of Sociology" by Robert E. Park
Thus managed, a leg of mutton is a most economical joint.
"The Cook's Oracle; and Housekeeper's Manual" by William Kitchiner
This tendency, of course, comes out prominently in the important discussions of social and economic problems.
"Social Rights and Duties, Volume I (of 2)" by Sir Leslie Stephen
The present economic system has made great strides toward the world organization of economic life in a comparatively short time.
"The Next Step" by Scott Nearing
We Germans succeeded in laying the foundations of your economic strength.
"England and Germany" by Emile Joseph Dillon
Especially were they burdened with books on economics and political science.
"Herbert Hoover" by Vernon Kellogg
The conditions of livelihood in both sections kept him rigidly restricted to this limited economic sphere.
"Negro Migration during the War" by Emmett J. Scott
In the economic field the story of dominance, cooperation, and competition is more complex than in government and religion.
"The Ethics of Coöperation" by James Hayden Tufts
Vocational economics is the economics of the craftsman and of the shop.
"College Teaching" by Paul Klapper
Until modern times the agricultural family was chiefly an economic unit.
"The Farmer and His Community" by Dwight Sanderson
This was partially due to changing economic conditions.
"The Road to Independence: Virginia 1763-1783" by Virginia State Dept. of Education
And herein lies the real strength of this party, making it as invincible as the economic necessity itself.
"Anarchism and Socialism" by George Plechanoff
Aside from economic loss there has also been a loss in social values.
"A Stake in the Land" by Peter Alexander Speek
In those regions in which the pioneer has remained the type of economic life Sunday schools do not thrive.
"The Evolution of the Country Community" by Warren H. Wilson
Socio-economic changes should not, possibly cannot, be inflicted upon a people from without.
"Border, Breed Nor Birth" by Dallas McCord Reynolds
There is at present a conflict between two principles, economic nationalism and economic internationalism.
"American World Policies" by Walter E. Weyl
This is a particularly bad ethical and economic situation from any viewpoint.
"The Itching Palm" by William R Scott
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In poetry:

Let some new lying ass,
Who knows not what is or was,
Talk economics,
Pay for his witless noise,
Get the kid nice new toys,
Call him 'professor'.
"Alf’s Sixth Bit" by Ezra Pound
Said the Socialist to the Suffragist: "You misinterpret facts!
There is no room for doubt or schism
In Economic Determinism–
It governs all our acts!"
"The Socialist And The Suffragist" by Charlotte Perkins Stetson Gilman

In news:

If Big Spring wants to remain a player in the economic development arena, it needs to keep its Economic Development Corp.
Statistics Canada is about to retell the country's economic history for the past 30 years in a new move that will also provide more insight into murky economic concepts.
But when policymakers waver on budget consolidations in order to pursue short-term economic and political goals, the economic uncertainties facing households and investors increase.
Nouriel Roubini, co-founder of the economic strategy firm Roubini Global Economics in New York, is worried about the so-called fiscal cliff the United States is facing at year's end.
As part of his continuing series of reports examining the country's economic future, Paul Solman sits down with Yale historian Paul Kennedy to discuss the rise and fall of the US and other great economic powers.
But she said South Africa was reviewing its policy of sending economic migrants home, mindful that powerful forces spur Zimbabweans and others to come to the region's economic hub.
Poore could benefit by tuning up a bit on which economic policies produce economic opportunities.
Northern Michigan University recently hosted Mohamed Rashed Al Hameli, a senior economic adviser with the Abu Dhabi Council for Economic Development.
Paul Volcker, left, pictured with President-Elect Barack Obama and Austan Goolsbee, a senior economic adviser to the Obama campaign, was named head of the newly created Economic Recovery Advisory Board during a news conference Wednesday.
"Train the Trainer" is a micro-grant opportunity, launched by the NAACP Economic Department, to equip NAACP units with the knowledge and tools to engage in economic education and advocacy work in their local communities.
The New Jersey Economic Development Authority will take a more scientific approach in calculating the maximum internal rate of return for projects seeking assistance under the Economic Redevelopment Growth grant program.
Economic Micawberism The Left expects businesses to place progressive ideals above economic survival.
Economic experts gave an overview of the state of Wyoming's economy at the Central Wyoming Economic Luncheon Tuesday.
A monthly economic index report suggests an economic slump will continue over the next three to six months for nine Midwest and Plains states.
Included in the Emergency Economic Stabilization Act signed by President Bush earlier to aid the economic crisis in the United States is an extension of the biodiesel blender tax credit.
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In science:

The ZINC experiment: an economical implementation of the ML language.
From Syntactic Theories to Interpreters: A Specification Language and Its Compilation
This scenario is applied to a simple economic model, the minority game.
Predicting and generating time series by neural networks: An investigation using statistical physics
The skew-orthogonality set by Eq. (12) represents a natural basis in which calculational technology is most economic.
Eigenvalue correlations in non-Hermitean symplectic random matrices
In this context universality is a stronger property than classical (Turing) universality: not only can the universal machine simulate every other machine, but the simulation is done in the most economical way.
Incompleteness, Complexity, Randomness and Beyond
These designs are economical, statistically efficient and simple to analyze (see Box and Hunter, 1961).
Minimum aberration designs of resolution III
Fourier transforms of his tactics ψ(p) in selling processes and, consequently, the appropriate observables Q and P are canonical ones, [P , Q] = iℏE , where the economic dimensionless constant ℏE describes the minimal inclination of the player to risk (by analogy with quantum harmonic oscillator, see below).
Fixed point theorem for simple quantum strategies in quantum market games
This assumption makes the theory more economic and close to its modern versions [2, 4].
5-Dimensional Covariance and Generation of Solutions of Einstein Equations
This concept is not a surprise, especially within the study of Politics or Economics.
Complex Systems
One reliable indicator of whether these models reflect economic reality is to test whether they reproduce the observed wealth distribution in various societies.
Stochastic Maps, Wealth Distribution in Random Asset Exchange Models and the Marginal Utility of Relative Wealth
We consider a simple model of a closed economic system where the total wealth (amount of money) available for exchange, M , and the total number of agents, N , trading with each other, are fixed.
Stochastic Maps, Wealth Distribution in Random Asset Exchange Models and the Marginal Utility of Relative Wealth
This is reminiscent of the phenomena of positive feedback leading to ‘lock-in’ in real economic systems .
Stochastic Maps, Wealth Distribution in Random Asset Exchange Models and the Marginal Utility of Relative Wealth
We can also connect the features observed in these models with phenomena like positive feedback (‘lock-in’) seen in real economic situations.
Stochastic Maps, Wealth Distribution in Random Asset Exchange Models and the Marginal Utility of Relative Wealth
Economics and Language, Cambridge University Press, Cambridge.
Dialogue as Discourse: Controlling Global Properties of Scripted Dialogue
Note that the process (1) is a reasonable model describing wealth distribution in economical systems .
Effects of Randomness on Power Law Tails in Multiplicatively Interacting Stochastic Processes
Such a representation can be used, for example, to describe an ensemble of agents interacting in an economical framework or a telecommunication network.
Statistical mechanics of random graphs
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