What does economic mean?
"Economic" is an adjective that describes anything relating to the economy or to the discipline of economics — the study of how societies produce, distribute, and consume goods and services. It is most often applied to abstract nouns that denote large-scale activity or condition: economic growth, economic policy, economic recession, economic development. When we speak of an economic problem or an economic forecast, we mean one connected to money, trade, industry, or employment rather than to other domains such as health or culture. The word carries a neutral, technical connotation and is standard in journalism, government reports, and academic writing, where it signals seriousness and analytical framing. It should not be confused with its near-neighbour "economical", which means thrifty or inexpensive; a car can be economical to run, but only a country or sector has an economy in the sense relevant here.
Of or relating to economics, the economy, or the management of resources, especially at a national or regional level.
"The report examines the economic impact of climate change on coastal communities."
Most commonly found in attributive position before nouns such as "growth", "policy", "crisis", or "development".
(Now largely dated) Providing value for money; inexpensive or thrifty in operation.
"A smaller engine is more economic on long motorway journeys."
This sense is now generally expressed with "economical"; using "economic" this way is considered old-fashioned by many speakers.
The word 'economic' traces back to the Greek oikonomikos — literally 'skilled in household management' — because for the ancient Greeks, managing a state's resources was seen as an extension of running a well-ordered home.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of economic
The word derives from Greek oikonomia, meaning household management or thrift, formed from oikos (house) and nomos (law or management). It entered English via Latin oeconomicus and later French during the early modern period, initially carrying the sense of relating to household management before shifting toward the management of state resources as political economy developed in the seventeenth and eighteenth centuries. Cognates include "economy", "economist", and "economical".
Related word forms
How economic is actually used
Primarily formal to neutral in register; it appears constantly in journalism, academic writing, and political discourse. In everyday speech, "economical" is preferred when describing something that saves money — saying a car is "economic" is grammatically acceptable but sounds slightly dated or non-standard in modern usage.
Easily confused with economic
"Economic" relates to the economy or economics as a field of study, while "economical" means saving money or avoiding waste.