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economy Idioms & Phrases


black economy

  • noun a hidden sector of the economy where private cash transactions go unreported
    • no one knows how large the black economy really is
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capitalist economy

  • noun an economic system based on private ownership of capital
    capitalism.
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communist economy

  • noun the managed economy of a communist state
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economy class

  • noun a class of accommodations on a ship or train or plane that are less expensive than first class accommodations
    cabin class; second class.
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economy of scale

  • noun the saving in cost of production that is due to mass production
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laissez-faire economy

  • noun an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
    private enterprise; laissez-faire economy; free enterprise.
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managed economy

  • noun a non-market economy in which government intervention is important in allocating goods and resources and determining prices
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market economy

  • noun an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
    private enterprise; laissez-faire economy; free enterprise.
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mixed economy

  • noun an economic system that combines private and state enterprises
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non-market economy

  • noun an economy that is not a market economy
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Political economy

  • noun the branch of social science that deals with the production and distribution and consumption of goods and services and their management
    economic science; economics.
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  • that branch of political science or philosophy which treats of the sources, and methods of production and preservation, of the material wealth and prosperity of nations.
Webster 1913

socialist economy

  • noun an economic system based on state ownership of capital
    socialism.
WordNet

token economy

  • noun a form of behavior therapy that has been used in some mental institutions; patients are rewarded with tokens for appropriate behavior and the tokens may be cashed in for valued rewards
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