1. The management or administration of the wealth and resources of a community (such as a city, state, or country).
2. The sociopolitical organization of a community’s wealth and resources.
3. Restrained, thrifty, or sparing use of resources; efficiency.
balanced economy. An economy in which the monetary values of imports and exports are equal.
black economy. See SHADOW ECONOMY.
judicial economy. See JUDICIAL ECONOMY.
overheated economy. An economy that, although it has a high level of economic activity, has the capacity to cause interest rates and inflation to rise.
political economy. A social science dealing with the economic problems of government and the relationship between political policies and economic processes.
shadow economy. See SHADOW ECONOMY.
underground economy. See SHADOW ECONOMY.
