adjective
definition
Pertaining to an economy.
definition
Frugal; cheap (in the sense of representing good value); economical.
definition
Pertaining to the study of money and its movement.
Examples of economic in a Sentence
They have no economic advantage in going to war.
But three years later a new economic development began.
In 1901-1902 the social economic condition of Italy was a matter of grave concern.
The article Fisheries deals with the subject from the economic and commercial point of view, and Angling with the catching of fish as a sport.
The fact that small nations can adopt standard treaties, laws, currencies, and international practices of larger countries means that a small economic unit can be viable.
A competing company decides to make an up-front investment and build a new factory in a distant land, high in the mountains where residents who choose to live there have less economic opportunity.
If the poor remove rich people's incentives to produce economic gain, the rich, who behave somewhat rationally, will stop producing.
Technology is simply the combining of other economic products in new ways.
This is a straight shot to economic poverty for any country desperate enough to try it.
Is there a logical end to that—a physical or economic law of some kind that says only 10 percent or 20 percent or 30 percent of people can ever be this wealthy?
Roosevelt is saying that freedom itself cannot exist apart from some amount of economic liberty.
Like a TV star that doesn't scale back his expenses after his show is cancelled, these benefits expand, not contract, during periods of economic decline, for two main reasons.
As we transition from one set of economic realities to another, there will be severe disruptions along the way.
We will begin with the economic factors I believe will help end war, eleven in all.
What I am saying is that as more factors align toward peace, peace becomes ever more the better economic option.
I referred to it as a dance, but it is a dance to economic death.
Owing to the historical past of Naples, and its social and economic condition at the end of the 17th century, the only study that really flourished there was that of law; and this soon penetrated from the courts to the university, and was raised to the level of a science.
He adopted the economic principles of List, and founded a society, the "Vedegylet," the members of which were to consume none but home produce.
Whereas in the past the strikes had been purely local and due to local conditions, they now appeared of more general and political character, and the sympathy strike came to be a frequent and undesirable addition to the ordinary economic agitation.
Amber and certain similar substances are found to a limited extent at several localities in the United States, as in the greensand of New Jersey, but they have little or no economic value.
This act liberated the serfs from a yoke which was really terrible, even under the best landlords, and from this point of view it was obviously an immense benefit.2 But it was far from securing corresponding economic results.
The economic and moral condition of the peasantry was little improved by freedom, and in many districts there were signs of positive impoverishment and demoralization.
The meeting confined its attention to economic questions, and had no political character whatever.
In Italy these railways are called " economic railways," and are divided into five types.
The State Geological and Economic Survey has made a careful study of the fishes of North Carolina, of the shad fisheries, of oyster culture, and of the development of terrapin.
My relative definition of poverty is "the state of being unable to reliably purchase a bundle of goods that allow one to participate in the economic norms of one's society."
The Communist system eschewed political liberties in favor of economic ones.
What good is our high economic standing in the world if we do not use it for good purposes?
After speaking about the economic costs of war, the burden it places on the economy, and the toll this takes on the people, Eisenhower closed by describing the peace proposals he was offering Russia and China.
As Eisenhower's presidency neared an end, he spoke of war again, but less in terms of economic costs.
The position we have described is no doubt partly due to the unsettlement of economic opinion and the hostile criticism of old-established doctrines which has characterized the last generation.
The order is of little economic value.
Beyond the small fertile valley in which it stands is the barren desert, on which rain rarely falls and which has no economic value apart from its minerals (especially saline compounds).
Through the adoption of standardized treaties, they can enter into economic agreements, adopt the same weights and measures, and agree to honor the intellectual property of the others.
But great as the achievements of this school have been, it has not developed any scientific machinery which can take the place of theory in economic investigation.
If our view is correct that, broadly speaking, the two ways of regarding economic questions are complementary rather than mutually exclusive, there does not seem to be any reason why the growth of the historical school should have been destructive of the " old Political Economy " if it had been well founded.
On the principles we have explained, therefore, the Ricardian economics should supply just that body of general theory which is required in the investigation of modern economic problems, and the reputation of at any rate the leading writers should be as great as ever.
Modern economic criticism and analysis has destroyed the authority of the " old Political Economy " as a scientific system.
It is, in fact, quite true that many of them were more interested in practical aims than in the advancement of economic science.
No one who is really experienced in economic investigation cares to emphasize the originality, still less the revolutionary character of his own work.
The result will be that while the doctrines are apparently being brought into closer correspondence with the facts of life, they will in reality be made quite useless for practical purposes or economic investigation.
Or it may be the result of economic agnosticism, combined with unwillingness to cut adrift from old moorings.
Whatever the cause, the complete restatement of economic theory, which some heroic persons demand, is clearly impossible, except on conditions not likely to be realized in the immediate future.
The span of life is limited; the work requires an extensive knowledge of the economic literature of several countries and the general features of all the important departments of modern economic activity.
This is largely a question of the organization of economic studies, and it is of the greatest importance that, if possible, such an effort should be made to present in a connected form the best results of modern criticism and analysis.
The very effectiveness of modern criticism and analysis,which has brought great gains in almost all branches of economic theory, has made the science more difficult as a subject of ordinary study.
In the case of many subjects this would matter very little, but in that of economics, which touches the ordinary life of the community at so many points, it is of great importance, especially at a time like the present, when economic questions determine the policy of great nations.
The " economic man " of the earlier writers, with his aversion from labour and his desire of the present enjoyment of costly indulgences, has been abandoned by their successors, with the result that in the opinion of many good people altruistic sentiment may be allowed to run wild over the whole domain of economics.
The " economic man " has, on the other hand, been succeeded by another creation almost as monstrous, if his lineaments are to be supposed to be those of the ordinary individual - a man, that is, who regulates his life in accordance with Gossen's Law of Satiety, and whose main passion is to discover a money measure of his motives.
Much suggestive work on this subject of a general character is incorporated in economic books of the present day, but there is room for a whole series of careful monographs on a question of such fundamental importance.