economy

economy

1. 

a. the complex of human activities concerned with the production, distribution, and consumption of goods and services

b. a particular type or branch of such production, distribution, and consumption

2. the management of the resources, finances, income, and expenditure of a community, business enterprise, etc.

3. 

a. a class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare

b. (as modifier): economy class

4. Philosophy the principle that, of two competing theories, the one with less ontological presupposition is to be preferred

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economy [ē′kän·ə·mē]

(chemical engineering)

In a multiple-effect evaporation system, the total weight of water vaporized in an evaporator per unit weight of the original steam supplied.

(computer science)

The ratio of the number of characters to be coded to the maximum number available with the code; for example, binary-coded decimal using 4 bits provides 16 possible characters but uses only 10 of them.