Money and banking / B1

i-KON-uh-mee/ɪˈkɒnəmi/

The economy is a country’s system of money, jobs, and trade. A strong economy; the local economy. Economics is the subject you study. Economic is the adjective for money systems (economic growth); economical means saving money (an economical car). These four words are a classic B1 trap.

Meaning

The system of money, jobs, and trade in a country.

Examples

• “Tourism is important to the economy.”
• “The economy shrank last year.”
• “Tourism supports the local economy.”

Good to know

the economy. Subject: economics. Adjectives: economic (system) vs economical (saving).

Topics

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