Renaissance for LEADERS

Peak Performance Resources for Leaders by Leaders

glossary

Economic

1. Of or relating to the production, development, and management of material wealth, as of a country, household, or business enterprise. 2. Of or relating to an economy: a period of sustained economic growth. 3. Of or relating to the science of economics: new economic theories regarding the effects of deficit spending. 4. Of or relating to the practical necessities of life; material: wrote the book primarily for economic reasons. 5. Financially rewarding; economical: It was no longer economic to keep the manufacturing facilities open. 6. Efficient; economical: an economic use of home heating oil.

Economic Freedom

Economic freedom enables people to make their own economic decisions. This freedom includes the right to own property, to use it, and to profit from it. Workers are free to choose and change jobs. People have the freedom to save money and invest it as they wish. Such freedoms form the basis of an economic system called capitalism.

Economy

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.

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