Meaning of the word economic in English

What does economic mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

economic

US /ˌiː.kəˈnɑː.mɪk/
UK /ˌiː.kəˈnɑː.mɪk/
"economic" picture

Adjective

1.

relating to economics or the economy

Example:
The country is facing a severe economic crisis.
The government introduced new economic policies.
2.

providing good value or being efficient in terms of money, time, or resources

Example:
Buying in bulk is more economic.
We need to find a more economic way to produce this product.
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