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