Word family noun economics economist economy adjective economic economical ≠ uneconomic(al) economy verb economize adverb economically ≠ uneconomically
From Longman Dictionary of Contemporary Englisheconomicec‧o‧nom‧ic /ˌekəˈnɒmɪk◂, ˌiː- $ -ˈnɑː-/ ●●● S2 W1 AWL adjective 1 [only before noun]PE relating to trade, industry, and the management of money → economy Economic growth is slow. the government’s economic policy Economic reform is needed. In the current economic climate (=conditions), we must keep costs down.► see thesaurus at financial2 BFPROFITan economic process, activity etc produces enough profit for it to continue SYN profitable OPP uneconomic It is no longer economic to run the service. ► Do not confuse with economical (=cheap or not wasteful).COLLOCATIONSnounseconomic activity (=the amount of buying, selling etc in a country or area)This year we have seen an upturn in global economic activity.economic growth/development (=when businesses become more successful)We have enjoyed a period of steady economic growth.an economic slowdown/downturn (=when businesses become less successful)Experts are predicting an economic slowdown at the beginning of next year.economic recession (=a period during which a country or area has a lot of problems with its economy)People are scared they will lose their homes if there is an economic recession.an economic crisis (=a situation in which there are a lot of problems with the economy, that must be dealt with quickly so the situation does not get worse)The country’s economic crisis continues to deepen as workers demonstrated against rising food prices.economic recovery (=the process in which an economic situation improves after a period of failing)There are now signs of economic recovery in the region.economic problemsThe country’s continuing economic problems could lead to recession.the economic system (=the way in which the economy of a country or area is organized)There are fears that the country’s whole economic system could collapse.an economic policy (=the way in which a government manages the economy of a country or area)Controlling inflation is the main aim of the government’s economic policy.economic reform (=a set of changes made to an economy in order to improve it)The government agreed to a programme of economic reform.the economic climate (=the general economic conditions in a country or area)In the current economic climate, a lot of people are trying to save more and spend less.economic sanctions (=laws that stop trade with another country, as a way of forcing its leaders to make political changes)The UN threatened economic sanctions against the regime.economic performance (=how well a company, country, or economy is doing)How do you explain this poor economic performance over the last few years?economic factor (=a factor involving money or the economy that affects a situation)Complex economic and social factors have contributed to the rise in violent crime.an economic indicator (=something that shows how well the economy of a country is doing, and what is likely to happen to it in the future)The main economic indicators show that the economy is still in decline. Examples from the Corpus
economic• The spies' motives were not political but economic.• The tax breaks will stimulate economic activity.• When approached by the scientists, he persuaded them to include an economic angle to the project.• In this kind of economic climate, employees prefer a lower salary in a job that is secure.• Cuba is emerging from five years of economic crisis.• Investors took their money elsewhere, prompting a far-reaching economic crisis.• a wide variety of economic development strategies• Each region has integrated needs-for public transit, for water and sewer systems, for solid waste treatment, for economic development.• The economic downturn that began in 1929 was enough on its own to cause an initial increase in failures.• By these measures, the economic gap between the wealthier countries and the poorer countries is usually diminished.• Slow economic growth and low consumer spending affected sales last year.• The key issue for corporate profits in the new year will be economic growth.• The rule also sets a stiff economic hurdle for smaller competitors.• In his acceptance speech, he said that the Government's economic policy was damaging business in the north-east.• Investors are holding out from Mexican stocks until they see clear signs of an economic recovery.• The US has maintained tough economic sanctions on Cuba.• World leaders gathered in the Miyako Hotel to map out the agenda for next month's economic summit.• Economic theory Until comparatively recently, bargaining was a subject on which economic theory had very little to say.• Florida will benefit from a number of economic trends that play to its strengths.economic climate• a difficult economic climate• Creditor business continues to be affected by the poor economic climate.• It is a vast undertaking at considerable cost and hence a very brave venture in the current economic climate.• The economic climate in higher education is also a constraint, says George Steele.• In the present economic climate it is doubtful if many lots were actually sold.• This heightened awareness is partly the result of changes in the economic climate of the last ten to fifteen years.• He couldn't understand what was going wrong - although the economic climate was improving, his profits were plummeting.• Is this too much to ask in the current economic climate when priorities may all to easily lie elsewhere?From Longman Business Dictionaryeconomicec‧o‧nom‧ic /ˌekəˈnɒmɪk◂, ˌiː--ˈnɑː-/ adjective [only before a noun]1ECONOMICSCOMMERCErelating to or involving economics, money, finance, industry, trade etcThe economic climate (=general state of the economy) is not likely to improve significantly in the current year.The country is facing a severe economic crisis.The government is trying to promote political stability and economic growth.What are the prospects for economic recovery?2a business or an investment that is economic produces enough profit to make it worth continuing withOilfields that are not economic today may become considerably more attractive when oil prices increase. 