Economy has a few related meanings, but in economics it mainly means the system of production, exchange, and use of goods and services in a country or region.wikipedia+2
In macroeconomic and everyday policy language, an economy is the system of trade, industry, and money through which a society’s wealth is created and used, such as “the Korean economy” or “the global economy.” It encompasses how resources are organized for production, how goods and services are distributed and traded, and how income flows between households, firms, and the government. More abstractly, some authors define an economy as the social domain that involves practices and institutions around producing, using, and managing resources. In micro usage, the word economy can also refer to a single country considered as an economic unit, for example calling Korea or Germany “an advanced economy” or “an emerging economy.”dictionary.cambridge+4
There is also a separate, more general meaning: economy can mean careful, efficient use of money, time, or other resources, as in “economy of words” or “making economies on costs.”oxfordlearnersdictionaries+2