Definition of economic adjective from the Oxford Advanced Learner's Dictionary

        

    economic

     adjective
    adjective
    BrE BrE//ˌiːkəˈnɒmɪk//
     
    ; NAmE NAmE//ˌiːkəˈnɑːmɪk//
     
    ; BrE BrE//ˌekəˈnɒmɪk//
     
    ; NAmE NAmE//ˌekəˈnɑːmɪk//
     
     
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  1. 1  [only before noun] connected with the trade, industry and development of wealth of a country, an area or a society social, economic and political issues economic growth/cooperation/development/reform the government’s economic policy economic history the current economic climate Synonymseconomicfinancial commercial monetary budgetaryThese words all describe activities or situations that are connected with the use of money, especially by a business or country.economic connected with the trade, industry and development of wealth of a country, an area or a society:This book deals with the social, economic and political issues of the period.financial connected with money and finance:She had got into financial difficulties. Tokyo is a major financial centre.commercial connected with the buying and selling of goods and services.monetary (formal or finance) connected with money, especially all the money in a country:closer European monetary unionbudgetary (finance) connected with a budget (= the money available or a plan of how it will be spent).Patterns economic/​financial/​commercial/​monetary/​budgetary affairs/​decisions the economic/​financial/​commercial/​budgetary climate the economic/​financial/​commercial side of something a(n) economic/​financial/​commercial centre Which Word?economic / economical Economic means ‘connected with the economy of a country or an area, or with the money that a society or an individual has’:the government’s economic policy the economic aspects of having children. see also economy (1) Economical means ‘spending money or using something in a careful way that avoids waste’:It is usually economical to buy washing powder in large quantities. see also economy (3)
  2. 2  (of a process, a business or an activity) producing enough profit to continue synonym profitable opposite uneconomic Synonymssuccessfulprofitable commercial lucrative economicThese words all describe somebody/​something that is making or is likely to make money.successful making a lot of money, especially by being popular:The play was very successful on Broadway. The company has had another successful year.profitable making a profit:a highly profitable businesscommercial [only before noun] making or intended to make a profit:The movie was not a commercial success (= made no profit).lucrative (of business or work) producing or paying a large amount of money; making a large profit:They do a lot of business in lucrative overseas markets.economic (often used in negative sentences) (of a process, business or activity) producing enough profit to continue:Small local shops stop being economic when a supermarket opens up nearby.Patterns a successful/​profitable/​lucrative business a successful/​profitable/​lucrative year a(n) commercial/​economic success
  3. Word Origin late Middle English: via Old French and Latin from Greek oikonomikos, from oikonomia ‘household management’, based on oikos ‘house’ + nemein ‘manage’. Originally a noun, the word denoted household management or a person skilled in this, hence the early sense of the adjective (late 16th cent.) ‘relating to household management’. Modern senses date from the mid 19th cent.Extra examples A public spending programme is out of the question in the current economic climate. Economic growth was fastest in Japan. It’s simply not economic for these small farmers to start buying large amounts of expensive fertilizer. She’s a lecturer in economic history. Small local shops stop being economic when a supermarket opens up nearby. The government’s economic policy has been broadly successful. This book deals with the social, economic and political issues of the period.
See the Oxford Advanced American Dictionary entry: economic