Uneconomic: meaning, definitions and examples
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uneconomic
[ ˌjuː.nɪˈkɒn.ə.mɪk ]
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.
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
Etymology
The term 'uneconomic' is derived from the root word 'economic', which traces back to the Greek word 'oikonomia', meaning 'household management'. The prefix 'un-' denotes the negation, thus forming 'uneconomic'. The word began to appear in English usage around the mid-20th century, reflecting a growing awareness of financial viability in both personal finance and corporate strategies. As economic theories evolved, the distinction between economic and uneconomic decisions became crucial in evaluating projects, investments, and policies. Understanding whether something is uneconomic is vital for businesses and governments to make informed decisions that align resources effectively and promote sustainable growth.