Uneconomic: meaning, definitions and examples
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uneconomic
[ˌjuː.nɪˈkɒn.ə.mɪk ]
Definition
cost efficiency
Uneconomic refers to a situation, project, or action that is not financially viable or profitable. It implies that the costs involved outweigh the benefits or returns, leading to a loss rather than a gain. In a broader sense, it can also relate to decisions that do not make economic sense in terms of resource allocation.
Synonyms
inefficient, nonviable, unprofitable.
Examples of usage
- The uneconomic plan was abandoned due to high costs.
- Investing in that business proved to be uneconomic.
- The uneconomic project led to financial losses.
- Their decision to proceed was deemed uneconomic.
Interesting Facts
Etymology
- The term 'uneconomic' combines the prefix 'un-' meaning 'not' with 'economic,' which comes from the Greek word 'oikonomia,' meaning 'management of a household.'
- The prefix 'un-' is often added to words to create the opposite meaning, turning 'economic' into its contrary, 'uneconomic.'
Economics
- Projects deemed uneconomic often represent inefficient resource allocation, where inputs exceed outputs.
- Environmental sustainability initiatives can sometimes be labeled uneconomic if they do not provide immediate financial returns, despite their long-term benefits.
Business
- Businesses may face situations where certain operations become uneconomic due to rising costs or competition.
- In competitive markets, companies regularly assess operations to eliminate uneconomic practices to maximize profits.
Environmental Studies
- Uneconomic practices are often scrutinized in environmental contexts, as they can lead to waste and negative ecological impacts.
- The term is critical in debates about sustainable development, where some argue short-term profits can lead to long-term environmental debt.
Policy and Governance
- Government subsidies might inadvertently support uneconomic industries, raising concerns about taxpayers' money.
- Economic policies often aim to shift focus away from uneconomic sectors to foster growth in sustainable areas.
Translations
Translations of the word "uneconomic" in other languages:
🇵🇹 não econômico
🇮🇳 अर्थहीन
🇩🇪 unwirtschaftlich
🇮🇩 tidak ekonomis
🇺🇦 неекономічний
🇵🇱 nieekonomiczny
🇯🇵 非経済的な
🇫🇷 non économique
🇪🇸 antieconómico
🇹🇷 ekonomik olmayan
🇰🇷 비경제적인
🇸🇦 غير اقتصادي
🇨🇿 neekonomický
🇸🇰 neekonomický
🇨🇳 不经济的
🇸🇮 neekonomski
🇮🇸 óhagkvæmur
🇰🇿 экономикалық емес
🇬🇪 არეკონომიური
🇦🇿 iqtisadi deyil
🇲🇽 antieconómico