economicˌɛk əˈnɒm ɪk, ˌi kə-
economic (n)
English Definitions:
economic, economical (adj)
of or relating to an economy, the system of production and management of material wealth
"economic growth"; "aspects of social, political, and economical life"
economic (adj)
of or relating to the science of economics
"economic theory"
economic, economical (adj)
using the minimum of time or resources necessary for effectiveness
"an economic use of home heating oil"; "a modern economical heating system"; "an economical use of her time"
economic (adj)
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"
economic (adj)
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"
economic (Adjective)
pertaining to an economy
economic (Adjective)
frugal; cheap (in the sense of representing good value); economical.
economic (Adjective)
pertaining to the study of money and its movement
Economic
The Economic was a British three-wheeled cyclecar made from 1919 to 1922 by Economic Motors of Wells Street, London, W1. It was, at £60, almost certainly the cheapest car on the British market at the time. The car had a single front wheel and no suspension, relying on the tyres and the flexibility of its ash frame to absorb road bumps. The two seater body was very simple with no windscreen or weather protection. The bodywork was minimal. The 165 cc, air-cooled, flat twin two-stroke engine drove the right-hand rear wheel by chain, and a variable-speed friction drive transmission was used, giving two forwards speeds and reverse. A top speed of 30 mph was claimed. A motorcycle using the same engine, also with friction drive, was also offered for £28 10 shillings.
economic
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, monetary transactions only account for a small part of the economic domain. Economic activity is spurred by production which uses natural resources, labor and capital. It has changed over time due to technology, innovation (new products, services, processes, expanding markets, diversification of markets, niche markets, increases revenue functions) such as, that which produces intellectual property and changes in industrial relations (most notably child labor being replaced in some parts of the world with universal access to education).
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"economic." Kamus.net. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.kamus.net/english/economic>.
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