Foolish's Word of the Day: Economy



noun  econ·o·my \i-ˈkä-nə-mē, ə-, ē-\
  1. archaic :  the management of household or private affairs and especially expenses

  2. thrifty and efficient use of material resources :  frugality in expenditures

  3. efficient and concise use of nonmaterial resources (such as effort, language, or motion)

  4. the arrangement or mode of operation of something

  5. a system especially of interaction and exchange

  6. the structure or conditions of economic life in a country, area, or period