ECONOMICAL

economic, economical

(adjective) using the minimum of time or resources necessary for effectiveness; “an economic use of home heating oil”; “a modern economical heating system”; “an economical use of her time”

economical, frugal, scotch, sparing, stinting

(adjective) avoiding waste; “an economical meal”; “an economical shopper”; “a frugal farmer”; “a frugal lunch”; “a sparing father and a spending son”; “sparing in their use of heat and light”; “stinting in bestowing gifts”; “thrifty because they remember the great Depression”; “‘scotch’ is used only informally”

economic, economical

(adjective) of or relating to an economy, the system of production and management of material wealth; “economic growth”; “aspects of social, political, and economical life”

Source: WordNet® 3.1

Etymology

Adjective

economical (comparative more economical, superlative most economical)

Careful with money so as not to spend too much; prudent; thrifty.

Saving money or resources.

(dated) Relating to economy in any other sense.

Usage notes

Modern usage prefers economic when describing the economy of a region or country (and when referring to personal or family budgeting). Economical is preferred when referring to thrift or value for money.

Source: Wiktionary

E`co*nom"ic, E`co*nom"ic*al, a. Etym: [F. économique, L. oeconomicus orderly, methodical, Gr. Economy.]

1. Pertaining to the household; domestic. "In this economical misfortune [of ill-assorted matrimony.]" Milton.

2. Relating to domestic economy, or to the management of household affairs. And doth employ her economic art And busy care, her household to preserve. Sir J. Davies.

3. Managing with frugality; guarding against waste or unnecessary expense; careful and frugal in management and in expenditure; -- said of character or habits. Just rich enough, with economic care, To save a pittance. Harte.

4. Managed with frugality; not marked with waste or extravagance; frugal; -- said of acts; saving; as, an economical use of money or of time.

5. Relating to the means of living, or the resources and wealth of a country; relating to political economy; as, economic purposes; economical truths. These matters economical and political. J. C. Shairp. There was no economical distress in England to prompt the enterprises of colonization. Palfrey. Economic questions, such as money, usury, taxes, lands, and the employment of the people. H. C. Baird.

6. Regulative; relating to the adaptation of means to an end. Grew.

Note: Economical is the usual form when meaning frugal, saving; economic is the form commonly used when meaning pertaining to the management of a household, or of public affairs.

Source: Webster’s Unabridged Dictionary 1913 Edition