Definition of Economy

Frugality; prudent expenditure of money or use of resources. Not synonymous with “parsimony.” Includes that which pertains to the satisfaction of man’s needs. D’Arcy v. Snell, 162 Or. 351, 91 P.2d 537, 540. Economic structure of country.

That's the definition of Economy in Black's Law Dictionary 6th Edition. Courtesy of