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.
References in periodicals archive ?
New Delhi [India], June 26 ( ANI ): With the Army considering the option of recruiting civilian staff in peace stations as part of its plans to end Sakayak system, a defence expert on Tuesday asserted that it will help the army in terms of economising on manpower.
Shouldn't the AMs be economising, not wasting taxpayers' money on this unnecessary refurbishing and put this money into health, schools or the elderly.
If this was an attempt by the PM's PR team to look like any other economising working class guy, then we are far from convinced.