Economic vs. Economical

synonyms

In this lesson, we are going to learn all about these two confusing words. I hope you still feel like expanding your knowledge.

What Is Their Main Difference?

Both of these worlds are related to the role of money in our lives and society. However, 'economic' refers to anything concerning the economy, whereas, 'economical' is a person who avoids wasting money.

Differences

As stated above, 'economic' is used to refer to anything concerning the economy and how money plays an important role in our lives and in the modern world as a whole. Check out the examples below:

She has an M.A. in modern economics.

Isn't everyone struggling with complex economic problems nowadays?

'Economical', on the other hand, refers to someone who saves money and does not shop a lot. Let us examine some examples below:

I have been trying to find an economical method to solve this issue, but I seem to fail.

The government announced an economical approach to controlling air pollution.

Similarities

As mentioned above, both refer to money. Take a look at the following examples:

What you're offering is not economical for us.

Learning to have an economic mindset is useful to everyone.

Are They Interchangeable?

Although they are both related to money, they cannot be used interchangeably. One refers to a state to avoiding money and saving it, whereas the other refers to how the money participates in a particular community. Compare:

✓ Is the economic mindset the same as the scarcity mindset?

X Is the economical mindset the same as the scarcity mindset?

As you can see, we have no such things an 'economical' mindset.

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