Related to the production, consumption, or transfer of wealth and resources.
Examples:
He studies economic problems in class.That decision had major economic impacts.
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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:
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Ways to tell them apart:
Economic relates to the economy or a system of production and consumption, think of economists dealing with economic problems.
Economical refers to using resources carefully and not wastefully, it's fitting for descriptions of thriftiness or saving money.
Remember, economic deals with large scale or broad systems while economical is more about personal or direct use and efficiency.