It is quite easily and common to confuse the use of the words economic and economical, since they both relate in part to the concept of ‘money’. However, it is important to know how each word is used to make the difference!
economic:
It is related to an economy.
Examples:
– China is now a global economic powerhouse.
– This year’s World Economic Forum was in Japan.
economical:
To be effective with little time, money and/or effort.
Examples:
– Volkswagen buggies are very economical cars.
– Today’s small apartments are economical with interior space.
Don’t Say:
Solar power is an economic energy source.
Say:
Solar power is an economical energy source.
More examples:
economic
– Small businesses promote economic growth.
– Economic recessions can bring business opportunities.
economical
– Cycling is more economical than driving.
– Bringing lunch is more economical than eating out.
EXERCISE
DIRECTIONS: Fill in the blanks with economic or economical.
EXAMPLE: Waldo’s is a really economical store. Prices are so low!
*Note: A misspelled word counts as incorrect.
ANSWER KEY
1) Brazil experienced agricultural, oil and economic growth in the last decade.
2) New washing machines make economical use of energy and water.
3) Our boss always thinks of the most economical and practical solutions to problems.
4) Solar panels provide the most economical way of heating up a house.
5) Germany has the most economic stability in the European Union.
KEY WORDS
– The word economics is used in financial terms such as, “Microeconomics” and “Macroeconomics”. For example, “Microeconomics studies how prices factor into economic decisions.” and “Unemployment is a major concern of macroeconomics.”
– There are slang words related to economy, such as ‘econobox’, which means ‘a small economical car”. For example, “Many people choose to buy an econobox because of their limited budget.”
– With economical, there is an idiomatic phrase: ‘to be economical with the truth’, which means ‘to not tell all the truth by leaving out details’. For example, “Politicians are economical with the truth sometimes.”
