economize

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economize

vb. to produce:
  1. a given OUTPUT of a product using fewer FACTOR INPUTS than previously;
  2. more output than before from the same amount of factor inputs;
  3. a given output of a product at lower cost than before by substituting cheaper factor inputs for more expensive ones in the production process (the ‘ideal’ or optimum position is attained when the largest possible output is produced from a given volume of factor inputs using available technology);
  4. a given output at the least possible factor cost. See PRODUCTIVITY, EFFICIENCY, ECONOMICS, PRODUCTION POSSIBILITY BOUNDARY.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The second way in which the epergne economised was that it made for the thrifty use of rare nuts, fruits and other luxuries.
With the ability to switch automatically between air-to-air and indirect evaporative heat exchange, the EcoBreeze consistently provides cooling to data centres in the most efficient manner.Available in individual 50kw modules that can be grouped up to four modules (200kw) or eight modules (400kw) of sensible cooling, EcoBreeze effectively reduces energy consumption by leveraging temperature differences between the outside ambient air and the return air to provide economised cooling to data centres.
Surely if the county council had economised on unnecessary purchases in 40 years, the money would be found.