economization

Meanings

• noun

  The act of making economic use of resources or reducing expenditure.

  - "The company's economization efforts helped to reduce production costs."
  - "The economization of natural resources is essential for sustainable development."

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Variants

List of all variants of economization that leads to same result
economize , economized , economizer , economizers , economizes , economizing

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Etymology

origin and the way in which meanings have changed throughout history.

From the Greek word 'oikonomia', meaning 'household management'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first recorded use of the term economization was in the 15th century.

2. Economization is a key concept in both micro and macroeconomics.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. cost reduction: The process of decreasing the cost of producing goods or services.

2. resource conservation: The practice of preserving natural resources for future use.

3. sustainability: The ability to meet the needs of the present without compromising the ability of future generations to meet their own needs.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Economization has been a significant concept in various fields such as economics, business, and environmental studies. It is often used to discuss ways to reduce waste, increase efficiency, and promote sustainability.

How to Memorize "economization"

1. visualize
   

   - Imagine a household budget and think about ways to reduce expenses, this is the concept of economization.

2. associate
   

   - Associate the word economization with the idea of saving resources or money.

3. mnemonics
   

   - Use the mnemonic 'Economize, Efficiently Expend' to remember the meaning of economization.

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