of or relating to an economy, the system of production and management of material wealth
"economic growth"
"aspects of social, political, and economical life"
using the minimum of time or resources necessary for effectiveness
"an economic use of home heating oil"
"a modern economical heating system"
"an economical use of her time"
concerned with worldly necessities of life (especially money)
"he wrote the book primarily for economic reasons"
"gave up the large house for economic reasons"
"in economic terms they are very privileged"
financially rewarding
"it was no longer economic to keep the factory open"
"have to keep prices high enough to make it economic to continue the service"
Pertaining to an economy.
"The new economic policies are expected to stabilize prices and boost employment across the region."
In plain English: Economic means having to do with money, buying and selling, or how a country manages its wealth.
"The company is struggling because their economic situation has worsened due to rising costs."
Usage: Use "economic" to describe anything directly related to the production, distribution, or consumption of goods and services, such as economic policies or economic growth. Avoid using it when you simply mean "cheap" or "cost-effective," which are distinct concepts in everyday language.
The word economic comes from the Latin oeconomicus, which was borrowed from Ancient Greek. Originally, it described someone skilled in managing a household before entering English to refer more broadly to financial systems and resources.