Definition

The system of production, distribution, and consumption of goods and services in a region or country. Can also refer to careful, frugal spending of resources.

Example Usage

The U.S. economy expanded by 2.3% last quarter.

Origin

From Greek 'oikonomia' (household management), combining 'oikos' (house) and 'nomos' (law or management).

Fun Fact

The word originally meant managing a single household's finances, but by the 1600s it broadened to describe entire societies' financial systems.

Source: Definition backfill (hailey)

Related Terms

Intermediate

insolvent

A person or business so financially submerged that accountants gave up and lawyers got involved. The point where 'broke' becomes a court-acknowledged legal catastrophe requiring formal government intervention.

💰 Finance / Accounting
Beginner

Nest Egg

A sum of money saved or invested for a specific purpose, usually for retirement, emergencies, or a major future goal. The term suggests a cushion of financial security that one preserves and allows to grow over time.

💰 Finance / Accounting
Beginner

inventory

All the stuff a business owns that it plans to sell, currently gathering dust in a warehouse somewhere while the finance team panics about carrying costs. It's the detailed list and physical count of every item on hand, from products to raw materials to that weird promotional item nobody wanted. The annual inventory count is where retail workers discover their will to live has limits.

💰 Finance / Accounting
Intermediate

annuities

A financial product converting your lump sum into predictable smaller payments—essentially trading 'access to real money now' for 'existential inflation anxiety spread across decades.'

💰 Finance / Accounting
Intermediate

misappropriation

The corporate euphemism for 'stealing,' typically involving someone with fiduciary responsibility who decided that 'other people's money' is really more of a suggestion than a rule. It's the white-collar crime of choice for accountants, executives, and nonprofit board members who convinced themselves they were just 'borrowing' the funds temporarily. Unlike shoplifting a candy bar, this usually involves spreadsheets, offshore accounts, and a lawyer explaining why technically it's 'misappropriation' not 'theft.'

💰 Finance / Accounting
Advanced

negative goodwill

When you acquire a company for less than the fair value of its identifiable net assets, essentially buying a dollar for seventy cents. Also called a 'bargain purchase,' it's as rare as it sounds and usually indicates something's wrong.

💰 Finance / Accounting

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See “economy” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

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