Finesentence mobile logo
Sign in Login / Register

Economically Meaning: Definition, Examples, and Translations

💰
Add to dictionary

economically

[ˌiː.kəˈnɒm.ɪ.kli ]

Definitions

Context #1 | Adverb

in business

Relating to economics or the economy in business, trade, or industry.

Synonyms

financially, fiscally, monetarily.

Which Synonym Should You Choose?

arrow down
Word Description / Examples
economically

Use 'economically' when referring to the efficiency or cost-effectiveness of a process, method, or system. It describes how resources are managed or utilized. This word often appears in discussions about conservation, resource management, and operational efficiency.

  • He managed the project economically, reducing waste and minimizing costs.
  • Living economically is essential for saving money and resources.
financially

Use 'financially' when discussing matters related to money, investments, or the financial health of individuals, companies, or organizations. It often deals with personal or corporate finances.

  • They are financially stable and can afford to buy a new house.
  • The company is struggling financially due to the economic downturn.
monetarily

Use 'monetarily' when referring to something in terms of money or currency value. It often quantifies or describes something in monetary terms.

  • The prize is monetarily significant, offering $10,000 to the winner.
  • Monetarily, this investment is not very attractive due to low returns.
fiscally

Use 'fiscally' when talking about government or public finance, budgets, and taxation. This term is commonly used in discussions about national or local government spending and economic policies.

  • The government needs to be fiscally responsible to avoid a budget deficit.
  • Fiscally, the new policy aims to balance the national budget.

Examples of usage

  • Economically, the company is doing well this quarter.
  • She manages the department economically, always looking for cost-saving opportunities.
Context #2 | Adverb

in terms of efficiency

In a way that relates to efficiency or effectiveness in the use of resources.

Synonyms

effectively, efficiently, productively.

Which Synonym Should You Choose?

arrow down
Word Description / Examples
economically

This word is often used when discussing financial savings or cost-cutting. It describes actions taken to save money or reduce expenses.

  • She managed the household expenses very economically.
  • He found a way to travel economically by taking advantage of discounts.
efficiently

Efficiently is used to describe performing tasks in a way that saves time, effort, or resources. It implies minimal waste and maximum productivity.

  • The factory operates very efficiently, producing minimal waste.
  • He completed the project efficiently, ahead of the deadline.
effectively

Effectively is used to indicate that something was done with success or achieved the desired result. It emphasizes the outcome rather than the process.

  • The new marketing strategy worked effectively to increase sales.
  • She communicates her ideas very effectively in meetings.
productively

Productively refers to being able to produce a lot of work or outcomes in a given period. It suggests a high level of output and effectiveness.

  • She has been working very productively this week.
  • They spent their weekend productively, finishing all their chores and also relaxing.

Examples of usage

  • They decided to invest in more environmentally friendly technology to operate more economically.
  • By planning ahead, you can travel more economically.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Economics

  • Refers to principles that govern the production, distribution, and consumption of goods and services.
  • Economically refers to effective resource management, emphasizing minimizing costs and maximizing benefits.
  • Microeconomics examines individual or business decisions, while macroeconomics looks at overall economic systems.

Cultural Context

  • Different cultures emphasize varying economic practices; for example, some prioritize communal sharing while others focus on individual wealth.
  • The approach to being economically efficient can change depending on local resources available, like how some areas reuse materials to save money.
  • Economic practices can influence social values, such as thriftiness being a virtue in some cultures.

Environmental Impact

  • Sustainable practices are a part of being economically responsible, highlighting the link between finances and environmental health.
  • Green economics promotes policies that consider ecological consequences and aim for a sustainable economy.
  • Efforts to be economically efficient can lead to reduced waste and better use of natural resources.

Popular Culture

  • Movies and shows often depict characters making smart economic choices, serving as lessons in resource management.
  • In literature, characters who navigate economic struggles often reflect societal themes about wealth and poverty.
  • The phrase 'living economically' is popular in lifestyle blogs focusing on budgeting and frugal living tips.

Origin of 'economically'

Main points about word origin

  • Derived from the Greek word 'oikonomia,' which means 'management of a household.'
  • The term started being used in the English language around the late 19th century, focusing more on broader financial management.
  • The evolution of its meaning has expanded to cover not just households but also businesses and nations.

The word 'economically' is derived from the word 'economic', which comes from the Greek word 'oikonomikos' meaning 'prudent in the management of household or family affairs'. The suffix '-ally' is added to form the adverb 'economically', indicating the manner in which something is done in relation to economics or efficiency.

Word Frequency Rank

With rank #4,816, this word represents useful upper-intermediate vocabulary. Understanding and using it will help you express more complex ideas effectively.