Who wants to save money? Well ,if that's you than choosing a smaller, more fuel-efficient car is a highly economical decision, saving on both initial purchase costs and long-term fuel expenses.
Now, when we want to talk about the economy, or describe the economy, how can we do that? Take a look at this example below.
The country's economic performance has been steadily improving, with rising GDP and decreasing unemployment rates.
Economical is an adjective used to describe something that saves you money.
Economic is an adjective used to describe the economy.
Economical
If you want to describe anything that saves you money, or is a good investment, we use the word economical.
"She bought an economical car because it uses less fuel and is cheaper to maintain." Explanation: The car she purchased is economical because it saves money on fuel and maintenance costs.
"The company chose an economical solution by reusing materials instead of buying new ones." Explanation: The company saved money by reusing materials instead of purchasing new ones, making it an economical choice.
"He found an economical way to heat his house by using a programmable thermostat to regulate temperature." Explanation: By using a programmable thermostat, he saves money on heating bills, making it an economical option for controlling indoor temperature.
"The supermarket offers economical options for groceries, including store-brand products at lower prices." Explanation: The supermarket provides economical choices for groceries by offering cheaper store-brand products.
"Investing in energy-efficient appliances is an economical decision as it reduces electricity bills in the long run." Explanation: By investing in energy-efficient appliances, one saves money on electricity bills over time, making it an economical choice for home appliances.
Economic
If we want to talk about money, the economy , trade or an industry, we use economic.
The government implemented new economic policies to stimulate job growth and boost the economy." Meaning: The government introduced new rules and regulations to encourage the creation of more jobs and improve the overall financial health of the country.
"Investing in education is essential for long-term economic development, as it enhances the skills and productivity of the workforce." Meaning: Spending money on education is crucial for the sustained growth and prosperity of the economy because it improves the abilities and efficiency of the labor force.
"The company's decision to expand its operations into international markets was driven by the desire for economic diversification and increased profitability." Meaning: The company chose to enter foreign markets to spread its business risks and generate more profits, aiming for a broader economic base.
"Rising inflation has become a significant concern for policymakers, as it threatens to destabilize the country's economic stability." Meaning: The increasing rate of inflation is worrying for government officials and economists because it has the potential to disrupt the overall financial balance and well-being of the nation.
"Technological advancements have led to significant economic growth in the tech sector, creating jobs and driving innovation." Meaning: Progress in technology has resulted in substantial expansion and prosperity within the technology industry, generating employment opportunities and fostering new ideas and inventions.
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