Related to the production, consumption, or transfer of wealth and resources.
Examples:
'They tell us that economics cannot change our human nature.She pursued her degree in economic theory with great zeal.Economic policies often influence global market trends significantly.
Synonyms:
Antonyms:
Economical
/iːkəˈnɒmɪk(ə)l/
Using money or resources wisely without waste
Examples:
Switching to LED lights is an economical decision.My car is known for its economical fuel consumption.She lives a very economical lifestyle, saving a lot monthly.
Synonyms:
Antonyms:
Ways to tell them apart:
Economic refers to the economy, encompassing everything related to the production, consumption, and transfer of wealth.
Economical describes something that saves money or resources, like a fuel-efficient car.
Think of economic as broader, often relating to policies, while economical is practical, relating to efficient usage.
Both words share a root in economy, but economical adds the idea of thriftiness.
Economic often applies to larger systems and scale, economical deals with personal or smaller scales.