It's the economy, stupid! was a phrase made famous by BIll Clinton during his 1992 presidential campaign to defeat incumbent [1] George Bush, Senior. He claimed that President Bush wasn't focusing on what was really important, the economy, which is what I want to focus on now! But only in terms of vocabulary. After all, I’m an English teacher not an economist!
When talking about the company, students often confuse the adjectives economic and economical. Economic means something related to the economy, or something that is profitable [2], whereas economical means cheap or affordable.
After a dismal [3] year, the auto industry has rebounded and is experiencing economic growth..
Compact cars are the most economic cars you can buy because they have better gas mileage [4] and they’re cheaper too. The hybrid cars maybe a little more expensive to buy, but in the long run [5], they are more economical, because you spend less on gas.
It’s also common for students to confuse the adjective economic with the noun economics, which is the study of the economy.
I have a degree in economics.
I specialize in emerging economies.
If you notice economics is an irregular uncountable noun. Although it ends in S, it isn’t plural, and it uses third-person-singular verbs. On the other hand, economy is countable and can have a plural form.
Oddly enough, the verb form of economy, economize has nothing to do with the economy, rather it means being economical, saving or spending less. And we use the preposition on between economize and an object.
Hybrid cars allow us to economize on gas.
Having double-glass windows help economize on heating.
How do you economize?
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