Word
economic
Phoneticseco·nom·ic
US/ˌɛkəˈnɑmɪk/
UK/ˌiːkənˈɒmɪk/
Definitions
01related to the economy
B1 · Intermediate General-service
adj. relating to the system of trade, industry, and money in a country or region.
adj. pertaining to the production, distribution, and consumption of goods and services within a specific geographic or political region.
“The government is worried about the current economic situation and rising prices.”
“The country's economic growth has slowed significantly due to the unexpected decline in global demand for manufactured exports.”
Pitfall
It is more economic to buy the large pack.
It is more economical to buy the large pack.
Use 'economic' for things related to the national economy; use 'economical' for things that save you money or are good value.
Synonyms
02profitable or viable
B2 · Upper Intermediate Academic
adj. describing a business or activity that makes enough money to be worth doing.
adj. capable of producing a profit or being maintained financially; often used in the context of industrial or commercial viability.
“The coal mine was closed because it was no longer economic to run.”
“The proposed high-speed rail link was deemed not economic by the independent auditors, given the projected maintenance costs and low passenger numbers.”
Synonyms
Antonyms
03related to the study of economics
B2 · Upper Intermediate Science Academic
adj. relating to the science or study of how money and trade work.
adj. pertaining to the academic discipline of economics or the theoretical models used to analyze markets.
“She is reading a book about different economic theories from the last century.”
“The professor presented a new economic model that accounts for psychological factors in consumer decision-making processes.”
Collocations
Common phrases and expressions where native English speakers use the word “economic” in context.
Verb
01. boost economic
“The government introduced new tax cuts to boost economic activity.”
verb + adj
02. economic impact
“The economic impact of the pandemic was felt by every household.”
adj + noun
03. economic policy
“The party's economic policy focuses on reducing the national debt.”
adj + noun
04. stimulate economic
“Lower interest rates are often used to stimulate economic recovery.”
verb + adj
Adjective
05. global economic
“The global economic situation remains unstable due to the recent conflict.”
adj + adj
06. rapid economic
“The country has experienced rapid economic growth over the last decade.”
adj + adj
Noun
07. period of economic
“We are entering a difficult period of economic uncertainty.”
noun + prep + adj
08. achieve sustainable economic growth
“The primary goal is to achieve sustainable economic growth without increasing inflation.”
09. face an economic crisis
“Many small businesses are struggling as they face a severe economic crisis.”
Confusables
Economic describes the system of trade and finance, while economical describes saving money or resources.
RememberEconomic = The Economy. Economical = Efficient.
Economic describes the systems of trade and industry; financial describes the actual money and funding.
RememberEconomic = The System. Financial = The Cash.
Real-World Examples
“Interest rate hikes on both sides of the Atlantic look more likely than at the start of the week, after the latest rush of economic data.” “The global economy has withstood the strains of the Iran war better than first feared but its outlook is “heavily dependent” on a lasting resolution to the conflict, the Organisation for Economic Co-operation and Development (OECD) has warned.” “In an interview with the BBC, Kristalina Georgieva says economic shocks had pushed "debt levels up like a staircase not to heaven".” Etymology
From Middle French economique, from Latin oeconomicus, from Ancient Greek οἰκονομικός (oikonomikós, “skilled with household management”).
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
Word family
ADJECTIVE
ADVERB
- Exam level
- CambridgeCambridgeCambridge English QualificationsThe exam suite from Cambridge University Press & Assessment, from A1 Movers up to C2 Proficiency. The benchmark names double as CEFR labels.B1 PreliminaryIELTSIELTSInternational English Language Testing SystemThe 0–9 band test co-owned by the British Council, IDP, and Cambridge. Used for university entry, work, and migration.4.0–5.0TOEFL iBTTOEFL iBTTest of English as a Foreign Language, Internet-Based TestETS's academic English test, the standard route for US university admissions. Scored 0–120, with a 1–6 scale since 2026.1–6 scale: 3.0–3.544–71TOEICTOEICTest of English for International CommunicationETS's workplace English test, big in Japan and Korea. Listening & Reading scores 10–990 and tops out at C1.550–784
- Frequency
- Very common
- Level
- B1 · IntermediateOxford
- Updated
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englishreference.com/q/economic