Economy/ɪˈkɑːnəmi/ Definition 1 of 4Pro Tip 1/3National Context Use 'economy' when discussing a country's financial health and practices. The new policy aims to strengthen the national economy. Pro Tip 2/3Beyond Money 'Economy' also involves resources like labor and materials, not just money. The economy benefits from advancements in technology. Pro Tip 3/3Growth or Decline Economy can grow or decline, reflecting a country's success or struggle. The recent recession hit the global economy hard.