economic

 
Pronunciation: /ˌiːkəˈnɒmɪk, ɛk-/

adjective

  • 1relating to economics or the economy: the government’s economic policy
  • (of a subject) considered in relation to trade, industry, and the creation of wealth: economic history
  • 2justified in terms of profitability: many organizations must become larger if they are to remain economic
  • requiring fewer resources or costing less money: solar power may provide a more economic solution

Origin:

late Middle English: via Old French and Latin from Greek oikonomikos, from oikonomia (see economy). Originally a noun, the word denoted household management or a person skilled in this, hence the early sense of the adjective (late 16th century) 'relating to household management'. Modern senses date from the mid 19th century

People sometimes describe something as economic when they mean economical. Economic means ‘concerning economics’: he’s rebuilding a solid economic base for the country’s future.Economical means ‘thrifty, avoiding waste’: small cars should be inexpensive to buy and economical to run.