economic
gb/ˌɛkənˈɑmɪk/ us/ˌɛkənˈɑmɪk/
B1
English
~ 500
Senses
0 senses
adjective
B1
property
1
Related to money or economy
About business, money, and how they are managed in a country or company.
Usage pattern:
[economic] [noun]
Common mistake:
Learners sometimes confuse 'economic' with 'economical'. 'Economic' relates to the economy; 'economical' means saving money or resources.
Synonyms
financial (Often used for matters involving money directly, not broader economy structures.)
|
fiscal (More formal and often used for government revenue and taxation issues.)
Antonyms
nonfinancial (Not related to money or the economy.)
Collocations
economic growth
|economic crisis
|economic policy
|economic development
|economic impact
Themes
business
|finance
|government
|core_vocabulary
Examples
- The country is facing serious economic challenges.
- Economic growth has slowed down over the past year.
- The government's new economic policy aims to reduce unemployment.
- Tourism plays a key role in the island's economic development.
- Economic factors influenced the company's decision to relocate.
Learner examples
- The city has many economic problems.
- We hope for economic growth next year.
- They study economic history at school.
- The new law will help economic development.
adjective
B2
property
2
Low cost or efficient use
Cheap to use or good at saving money, time, or other things.
Usage pattern:
[economic] to [do something]
Common mistake:
Learners often use 'economic' when 'economical' is more natural for this meaning. 'Economic' is acceptable but formal or rare here.
Synonyms
economical (This is the more common word for this meaning; 'economic' is less frequent in this sense.)
Antonyms
wasteful (Spending more than necessary or using resources poorly.)
Collocations
economic solution
|economic to run
|economic choice
Themes
daily life
|business
|finance
|core_vocabulary
Examples
- This heating system is more economic in the long run.
- It would be more economic to share a taxi than to take separate ones.
- The design is simple and economic to produce.
Learner examples
- The car is economic to drive.
- This plan is more economic for us.
- It is economic to buy food in bulk.
Grammar
Dictionary form
economic
IPA
GB/ˌɛkənˈɑmɪk/
US/ˌɛkənˈɑmɪk/
Syllables & stress
eco - nom - ic (3 syllables)
Stress on 3rd syllable (ic)
Word forms
Adjective
- Base: economic
Word family
Core family
Related words
economical
adjective B1
economize
verb B2
Negative and opposite forms
uneconomic
adjective
uneconomical
adjective
Advanced or less common
socioeconomic
adjective C1
macroeconomic
adjective
Expressions
economic crisis
1/ˌɛkənˈɑmɪk kɹˈaɪsəs/
fixed phrase
Severe economic problems in a country
A time when a country's money system has big problems, like high unemployment and low production.
Examples
- The country went through an economic crisis in the late 1990s.
- An economic crisis can lead to political instability.
economic impact
1/ˌɛkənˈɑmɪk ˈɪmpækt/
fixed phrase
Effect on the economy
The way something changes how much money is made or spent in a place.
Examples
- The festival had a positive economic impact on local businesses.
- Experts are studying the economic impact of climate change.
economic policy
1/ˌɛkənˈɑmɪk pˈɑlɪsi/
fixed phrase
Government's plan for economy management
A government's ideas and rules about how to run the country's money and business systems.
Examples
- The president announced a new economic policy focused on job creation.
- Economic policy can affect inflation rates.
economic development
1/ˌɛkənˈɑmɪk dɪvˈɛləpmənt/
fixed phrase
Improvement of economy and living standards
When a country gets more jobs, better businesses, and higher living standards over time.
Examples
- Economic development has reduced poverty levels in the region.
- Tourism is vital for the region's economic development.
- The government launched a plan for economic development.
- The conference focused on strategies for sustainable economic development.
economic growth
1/ˌɛkənˈɑmɪk ɡɹˈoʊθ/
fixed phrase
Increase in national production and wealth
When a country makes and sells more goods and services than before, usually making people richer.
Examples
- Economic growth slowed during the recession.
- Economic growth has slowed this year due to global uncertainty.
- The government introduced reforms to boost economic growth.
- The government introduced policies to encourage economic growth.