Category: Money & Wealth Page 11 of 14
1. Careful management of resources to avoid unnecessary expenditure or waste; thrift. 2. A means or instance of this; saving 3. Sparing, restrained, or efficient use, esp to achieve the maximum effect for the minimum effort: economy of language. 4. The complex of human activities concerned with the production, distribution, and consumption of goods and services. 5. A particular type or branch of such production, distribution, and consumption: a socialist economy; an agricultural economy. 6. The management of the resources, finances, income, and expenditure of a community, business enterprise, etc. 7. A class of travel in aircraft, providing less luxurious accommodation than first class at a lower fare: economy class. 8. Offering or purporting to offer a larger quantity for a lower price: economy pack. 9. The orderly interplay between the parts of a system or structure: the economy of nature. 10. The principle that, of two competing theories, the one with less ontological presupposition is to be preferred.
A working document that includes a vision statement, long and short term financial goals, current income and expense statements, balance sheet, cash flow forecast, asset allocation plans, return on investment metrics, tax liabilities and management, life, income and medical insurance policies, financial records archive, future estate and retirement plans, opportunity cost analysis, measurement metrics and milestones, specific action plans to achieve the stated goals, as well as contingency arrangements, alternative courses of action and critical path analysis.
1. To use, consume, spend, or expend thoughtlessly or carelessly. 2. To cause to lose energy, strength, or vigor; exhaust, tire, or enfeeble. 3. To fail to take advantage of or use for profit; lose. 4. A place, region, or land that is uninhabited or uncultivated; a desert or wilderness. 5. Anything other than the minimum amount of equipment, materials, parts, space and worker’s time which are absolutely essential to add value to the product (Working Definition from Toyota.) 2. Use to no purpose or inadequate result or extravagantly (waste time.)