economic

economic — adjective

1. relating to a country's or region's system of producing, buying, and selling goo

1.adjectiveB1
Definition

relating to a country's or region's system of producing, buying, and selling goods and services, and managing its money and resources

Example

The government introduced new economic policies to control inflation.

collocation: economic policies

Yuki's family lost their home during the economic crisis of 2008.

collocation: economic crisis

Common collocations
  • economic growth
  • economic crisis
  • economic policy
  • economic development
  • economic system
  • economic reform
  • economic conditions
  • economic activity
  • economic recovery
  • economic downturn
Synonyms
  • financial

    focuses specifically on money and monetary systems; narrower scope than economic

  • commercial

    relates to business and trade rather than the whole economy

  • monetary

    relates specifically to money supply and currency; more technical

Grammar Patterns

economic + noun

Usage Note

Often confused with 'economical', which means 'using money, time, or resources carefully without waste'. 'Economic' relates to the economy or to profitability; 'economical' relates to thriftiness. For example: 'The government announced new economic measures' (measures concerning the economy) vs. 'A small car is more economical to run' (costs less to operate).

Common Mistakes

Buying in bulk is more economic than buying small packets.
Buying in bulk is more economical than buying small packets.
'Economic' refers to the economy or profitability; 'economical' means saving money or avoiding waste.

2. producing enough money or financial benefit to make a business activity worth co

2.adjectiveB2
Definition

producing enough money or financial benefit to make a business activity worth continuing

Example

The old factory is no longer economic to run at current energy prices.

pattern: no longer economic to [verb]

Quan decided it was not economic to deliver goods to such remote villages.

pattern: it is (not) economic to [verb]

Common collocations
  • no longer economic
  • barely economic
  • economic to operate
  • economic to run
  • financially economic
Synonyms
  • profitable

    more common and straightforward; used in both positive and negative contexts

  • viable

    emphasises whether something can succeed, not just profit

  • cost-effective

    focuses on getting good value relative to the money spent

Antonyms
  • uneconomic

    the direct antonym — not profitable enough to continue

Grammar Patterns

it is economic to + infinitive

be + economic

no longer economic

Usage Note

This sense is most common in negative or conditional contexts ('not economic', 'no longer economic', 'barely economic'). It is rarely used in affirmative statements without a qualifying condition. Use 'profitable' as a more straightforward alternative in everyday speech.

Common Mistakes

The shop is very economic — it earns a lot of money.
The shop is very profitable
it earns a lot of money.' — 'Economic' in this sense is usually used in negative or conditional contexts; 'profitable' is more natural for straightforward positive statements.

Word family

Synonym discussion

Sense: adjective/1

While 'economic' is the broadest term covering all aspects of a country's or region's wealth and resources, 'financial' is narrower and focuses specifically on money, banking, investments, and capital. 'Commercial' relates primarily to business and trade activities between companies rather than the whole economy. 'Monetary' is a more technical term that refers specifically to a country's money supply and currency system, as used in 'monetary policy' by central banks. 'Fiscal' relates to government revenue and spending, particularly taxation and budget decisions. For example: 'The country faces economic challenges' (overall) vs. 'The central bank tightened monetary policy' (money supply) vs. 'The government announced new fiscal measures' (taxation and spending).

financial ↗commercial ↗monetary ↗fiscal ↗

Common collocations

Adverbs

  • purely economic
  • strictly economic
  • essentially economic
  • purely from an economic standpoint

Phrases

  • from an economic point of view
  • on economic grounds

Etymology

GreekLatinFrenchEnglish

Derived from Latin 'oeconomicus' (relating to household management), which came from Greek 'oikonomikos' (skilled in household management), from 'oikos' (house) and 'nomos' (management, law). The modern sense relating to a whole country's wealth and trade developed in the 19th century alongside the field of economics.