Hi this is Tutor Nick P and this is lesson 48. Today we are going to look at the difference between economic, economical and economy. All right. So let's take a look at first one. Economic
basically, economic is the adjective to the noun of economy. So what is economic mean ? Economic means relating to the economy
of a country or region. So just like I said economic is the adjective to the noun economy which is very, very common. We hear about the economy all the time. And economic is actually quite
common as well. So let's take a look at the first example. The global economic growth
continues to slow down or you might talk about the economic growth of a particular country. The
second meaning, the government is planning to add an economic stimulus. Okay. So especially
economic growth, economic stimulus. Always referring to the economy. Directly to the economy.
So again remember economic is the adjective to the noun economy. All right. So what is economical ? Economical means
not costing much to buy or use in comparison to others of the same type. So
basically it saves you money. Something that kind of saves you money is
economical or something is more economical. You know it's cheaper than
something else. Okay. Let's take a look at
the first example. This type of car is more economical because it is very
fuel-efficient. It gets good gas mileage. Yeah so over time, you'll save money on
how much gas you have to put in your tank or how far it'll get you by using
this car because it gets good gas mileage. So it's more economical, at least as far as gas is concerned.
All right. Let's look at number two. This insurance plan is more economical , but it doesn't give you
quite as much coverage. So it's, it's cheaper. Maybe it's even considerably
cheaper. I don't know, but a little less coverage. So if you want to save some
money, you might go for that plan. So again, economical always has the idea to
to try to save you some money. It's not costing you as much to use. Basically.
All right. Now let's look at economy. First, again let's relook at
economy as a noun. Probably the most common use out of all of these. Economy
as the noun is the financial and business system of a country. So yeah. Economic is the adjective to this. Economy is the noun. Again. So
there are two other uses of economy that do have something to do with saving
money. The one with economy as a noun that
doesn't have anything to do with saving money and has more to do with the
business or the finances of a country. So here's the It's either, either it's an adjective form or
more like a noun phrase we often use the term 'economy size' to mean you can save
money if you buy in large amounts. We also have another use of the word
economy to refer to the least expensive type of travel. So let's look at all
these examples. The first example is just simply economy as a noun. The president
is focused on the economy you know, of course, he would like to improve the
economy. Again this is the financial situation of the country.
Again not anything really to do with saving money. The second one. If you
buy the economy size , you can save about 25 percent. All right. So we have a use of
economy that's a little like economical, but we often use it in noun phrases like
economy size, or economy class, or economy travel. All right. So again here if you buy
economy size, you know, we sometimes see maybe. If you're buying in bulk or your
body and they'll really really large size and
that they give you a little bit of a break maybe. If you figured it out. You're
saving 20% or 30% over the long run it could make a big difference. Okay and
look at the last one. I can only afford to fly economy class. Yeah we hear this
all the time when you're taking the plane.
Most people get economy, you know, if you're lucky enough. You have enough
money. Maybe you can be in first class or business class. Or maybe you had a lot of
mileage . They might bump you up from economy class to business class or , or
first class. Well that's the way that we refer to saving money with the airlines
or airline tickets. We say economy class. All right. So I hope that clarifies it . , because sometimes,
sometimes students my ask what's the difference between all three economic, economical and economy. Thank you for your time. Bye-bye.