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Economy vs Microeconomy - What's the difference?

economy | microeconomy |

As nouns the difference between economy and microeconomy

is that economy is effective management of the resources of a community or system while microeconomy is a very small economy.

As an adjective economy

is cheap to run; using minimal resources; representing good value for money.

economy

English

Alternative forms

*

Noun

(wikipedia economy) (economies)
  • Effective management of the resources of a community or system.
  • Collective focus of the study of money, currency and trade, and the efficient use of resources.
  • Frugal use of resources.
  • * Jonathan Swift
    • I have no other notion of economy than that it is the parent to liberty and ease.
  • The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
  • * {{quote-magazine, date=2013-08-31, volume=408, issue=8851, magazine=(The Economist)
    • , title= Horns of a trilemma , passage=An economy open to free movement of capital can keep a fixed exchange rate, for example, only by subjugating monetary-policy goals to its defence—by raising interest rates sharply, say, when capital outflows put downward pressure on the currency. Yet the trilemma also implies that an economy can enjoy both free capital flows and an independent monetary policy, so long as it gives up worrying about its exchange rate.}}
  • (theology) The method of divine government of the world.
  • (archaic) Management of one’s (l).

    • Derived terms

    * collaborative economy * command economy * economic * economical * economist * economize * market economy * peer-to-peer economy * planned economy * sharing economy

    Related terms

    * economics ** macroeconomics ** microeconomics

    Adjective

    (-)
  • Cheap to run; using minimal resources; representing good value for money.
    • "He bought an economy car."
    "Economy size".

    Anagrams

    *

    microeconomy

    English

    Noun

    (microeconomies)
  • A very small economy.
  • *{{quote-news, year=2007, date=October 21, author=Adam Hochschild, title=Voyage of the Damned, work=New York Times citation
    • , passage=Rediker looks not at that bigger picture but at the slave ship itself, as a microeconomy where the captain was chief executive, jailer, accountant, paymaster and disciplinarian, exercising these roles by maintaining, from his spacious captain’s cabin in a very unspacious ship, the mystique of what later military leaders would call command isolation. }}