- 1the economy [countable] the relationship between production, trade, and the supply of money in a particular country or region The economy is in a recession. the world economy a market economy (= one in which the price is fixed according to both cost and demand) see consumer economy
- 2[countable] a country, when you are thinking about its economic system Ireland was one of the fastest-growing economies in Western Europe in the 1990s.
- 3[countable, uncountable] the use of the time, money, etc. that is available in a way that avoids waste We need to make substantial economies. It's a false economy to buy cheap clothes (= it seems cheaper but it is not really since they do not last very long). She writes with a great economy of words (= using only the necessary words). Buy the large economy pack! (= the one that gives you better value for money) to fly economy (class) (= by the cheapest class of air travel) an economy fare (= the cheapest) Topic CollocationsThe Economymanaging the economy
- handle/run/manage the economy
- boost investment/spending/employment/growth
- stimulate demand/the economy/industry
- cut/reduce investment/spending/borrowing
- reduce/curb/control/keep down inflation
- create/fuel growth/demand/a boom/a bubble
- encourage/foster/promote/stimulate/stifle innovation/competition
- encourage/work with/compete with the private sector
- increase/boost/promote U.S./agricultural exports
- ban/restrict/block cheap/foreign imports
- the economy grows/expands/shrinks/contracts/slows (down)/recovers/improves/is booming
- enjoy an economic/housing/property boom
- push up/drive up prices/costs/inflation
- damage/hurt/destroy industry/the economy
- cause/lead to/go into/avoid/escape recession
- experience/suffer a recession/downturn
- fight/combat inflation/deflation/unemployment
- cause/create inflation/poverty/unemployment
- create/burst a housing/stock market bubble
- cause/trigger a stock market crash/the collapse of the banking system
- face/be plunged into a financial/an economic crisis
- be caught in/experience cycles of boom and bust
- cut/reduce/slash/increase/double the defense/education budget
- increase/boost/slash/cut public spending
- increase/raise/cut/lower/reduce taxes
- raise/cut/lower/reduce interest rates
- ease/loosen/tighten monetary policy
- balance the (state/federal) budget
- achieve/maintain a balanced budget
- run a ($4 trillion) budget deficit/surplus
- ⇨ more collocations at note at politics, vote
Check pronunciation: economy