economic Meaning, Definition & Usage

  1. adjective of or relating to an economy, the system of production and management of material wealth
    economical.
    • economic growth
    • aspects of social, political, and economical life
  2. adjective of or relating to the science of economics
    • economic theory
  3. adjective satellite using the minimum of time or resources necessary for effectiveness
    economical.
    • an economic use of home heating oil
    • a modern economical heating system
    • an economical use of her time
  4. adjective satellite 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
  5. adjective satellite 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

WordNet

E`co*nom"ic, E`co*nom"ic*al adjective (Also<
  • Economic
  • Economical
)
Etymology
F. économique, L. oeconomicus orderly, methodical, Gr. economical. See Economy.
Definitions
  1. Pertaining to the household; domestic. "In this economical misfortune [of ill-assorted matrimony.]" Milton.
  2. Relating to domestic economy, or to the management of household affairs.
    And doth employ her economic art And busy care, her household to preserve. Sir J. Davies.
  3. 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. Harte.
  4. Managed with frugality; not marked with waste or extravagance; frugal; -- said of acts; saving; as, an economical use of money or of time.
  5. Relating to the means of living, or the resources and wealth of a country; relating to political economy; as, economic purposes; economical truths.
    These matters economical and political. J. C. Shairp.
    There was no economical distress in England to prompt the enterprises of colonization. Palfrey.
    Economic questions, such as money, usury, taxes, lands, and the employment of the people. H. C. Baird.
  6. Regulative; relating to the adaptation of means to an end. Grew. ✍ Economical is the usual form when meaning frugal, saving; economic is the form commonly used when meaning pertaining to the management of a household, or of public affairs.

Webster 1913