Economically: meaning, definitions and examples

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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?

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?

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.

Interesting Facts

Etymology

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.

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.

Translations

Translations of the word "economically" in other languages:

🇵🇹 economicamente

🇮🇳 आर्थिक रूप से

🇩🇪 wirtschaftlich

🇮🇩 secara ekonomi

🇺🇦 економічно

🇵🇱 ekonomicznie

🇯🇵 経済的に

🇫🇷 économiquement

🇪🇸 económicamente

🇹🇷 ekonomik olarak

🇰🇷 경제적으로

🇸🇦 اقتصاديًا

🇨🇿 ekonomicky

🇸🇰 ekonomicky

🇨🇳 经济上

🇸🇮 ekonomsko

🇮🇸 efnahagslega

🇰🇿 экономикалық тұрғыдан

🇬🇪 ეკონომიკურად

🇦🇿 iqtisadi cəhətdən

🇲🇽 económicamente

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.

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4819 formulation
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