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How to pronounce:
economy
Definition:
(nou) the system of production and distribution and consumption (nou) the efficient use of resources (nou) frugality in the expenditure of money or resources (nou) an act of economizing; reduction in cost
Phonetic Transcription:
ɪˈkɒnəmi
Examples:
It is an indicator for the market's belief in the stability of the economy.
The economy of the block is mainly an agrarian economy.
In low inflationary economies it makes the economy less efficient.
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