adjective

economic

ee-kuh-NAH-mik/ˌiːkəˈnɑːmɪk/

Concerned with the production and use of material resources.

The baker and customer take part in a simple economic exchange.

A small bakery exchange connects production, distribution, and spending: a baker hands a freshly made loaf to a customer who pays with coins, beside visible dough and finished bread.

Etymology

ecoGreekhousehold

+nomGreekto manage

+icGreekrelating to

The roots describe managing a household. That idea broadened from handling domestic resources to managing the wealth and resources of a country, giving economic its wider financial and resource-related meaning.

In context

The Scottish Parliament60:50

that will create more jobs and generate more local income, thus raising prosperity and creating sustainable new businesses and long-term economic growth.

Scottish Government Debate: Scotland Loves Local - 8 December 2021

More examples

The town depends on tourism for its economic growth.
High unemployment is one of the country's biggest economic problems.
Recycling becomes economic when recovered materials sell for enough money.

Forms

economic

economy noun — A system of production, trade, and consumption.

economics noun — The study of production, distribution, and consumption.

Similar words

financial: Focuses on money and funding rather than production and consumption.
commercial: Concerns buying and selling rather than the whole economy.