economize

(redirected from economized)
Also found in: Dictionary, Thesaurus, Legal, Idioms.

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 ?
We want to create a tool to ensure economized funds by households during the heating season be turned into cash and paid to the people to encourage economy," he said.
By cantilevering the structure across the street, instead of putting a structural support inside the residential tower, the architects economized on materials, time, and imposition on university life.