economical approach vs economic approach

Both "economical approach" and "economic approach" are correct, but they have different meanings. "Economical approach" refers to being efficient or thrifty in the use of resources, while "economic approach" relates to the study or analysis of economic principles. Therefore, the choice between the two depends on the intended meaning.

Last updated: April 03, 2024 • 92 views

This phrase is correct and commonly used to refer to an approach that is efficient or thrifty in the use of resources.

"economical approach"

Use "economical approach" when referring to an approach that is cost-effective, efficient, or thrifty in the use of resources.

Examples:

Taking an economical approach to energy consumption can lead to significant cost savings.
The company adopted an economical approach to reduce waste and increase efficiency.

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If you get banned often, this is not going to be a very economical approach.
This may be a more economical approach since you can get this stuff in bulk. I have discovered small amounts of diatomite mixed in with bark seems to be a hit with my oncidium alliance plants.
Applauds the effective and economical approach employed by the Agency in the housing, transport and agriculture sectors;
Moreover, this space automatically includes the vestibules and other construction details allowing more efficient and economical approach.
There were other things I did expensively and foolishly, because I just didn't have enough experience to know the proper and economical approach.
Our group rejects the strictly economical approach to social protection, which aims to commercialize everyone's legitimate aspiration of security, and to turn it into goods.
It is also a matter of macro-economical approach.
That said, at better than $300 it is an expensive tool, and in most cases the more practical, or at least economical, approach would be to buy a better copy of the record.
The focus of the Conference was the future World and regional trends, scenarios and problems as they emerge adopting a geopolitical, geo-economical and mainly interdisciplinary approach.
This is an important approach to an economical use of resources.
Our offer not only includes deadline-driven deliveries, but also our three-pronged approach to success: technological, economical and ecological expertise.
A useful accessory for farms which lack electricity and wish to approach fertigation in a simple and economical way.
Buying a used luxury car is a smart and economical decision-if you take the right approach.
The Sustainability Report 2007 presents the social, environmental and economical performances linked to the activities of the group within its countries of operation, in line with the approach of previous years.
Exploring aspects of environmental, mobility and economical smartness in European cities: a factor analysis approach. | Archivio della ricerca della Scuola Superiore Sant'Anna Attenzione: i dati modificati non sono ancora stati salvati.
Finally, we do not agree with the practice of borrowing as much as possible, to the very limit, instead of endeavouring to take an economical, restrained and responsible approach to taxpayers' money.
The book adopts an innovative approach: not only the technological, sociological or economical aspects of the phenomenon, but rather the new urban models emerging from an information society that is increasingly geared towards globalisation.
The social, economical and environmental dimensions of sustainable development are all addressed with a correct scientific approach and a balance of opinions from different interest groups, cultures and locations.
Today's economical, social and environmental great challenges impose a greater commitment and a new integrated approach towards the sustainable development that must involve all the company choices and strategies.
The approach has resulted in a system that Ultra believes to be economical: the company reports that the total cost (vehicles, infrastructure, and control systems) is between £3 million and £5 million per kilometre (mile) of guideway.

Alternatives:

cost-effective approach
efficient approach
resource-efficient approach
thrifty approach
budget-friendly approach

This phrase is correct and commonly used to refer to an approach related to the study or analysis of economic principles.

"economic approach"

Use "economic approach" when referring to an approach that involves the study or analysis of economic principles, theories, or concepts.

Examples:

The economic approach to poverty alleviation focuses on creating sustainable economic opportunities.
The research project takes an economic approach to understanding consumer behavior.

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The Austrians also by the way (of course from their economic approach).
This test reflects the economic approach which the EFTA Surveillance Authority is applying.
It is recommended that the NCBs move towards the economic approach within this period.
A detailed description of the economic approach is set out in Annex III.
Surplus funds should be valued in line with the economic approach laid down in this Directive.
It is unfortunate and disappointing in my view that the Commission is once again opting for an economic approach and describing women mainly as a means of achieving economic growth.
This is correct. However, the Commission has indicated that it changed its practice on the basis of the refined economic approach.
The economic approach taken by Nobel Prize-winner Gary Becker
In the assessment of individual cases, the Commission will adopt an economic approach in the application of Article 81 to vertical restraints.
3. In derogation from paragraph 1, NCBs may use the economic approach before 1 January 2007.
Hence, the Communication on State aid and risk capital already reflected the key focus of a refined economic approach.
Mr President, in the Gruber report, Parliament is following the particularly one-sided quantitative economic approach to the immigration problem.
The traditional indicators have been roundly criticised by the American economist Gary Becker in his works on human capital and the economic approach to life.
The development of the abovementioned economic approach should allow it to appraise the effects of those funds and the favourable contribution they can make to improving conditions of employment.
These guidelines also set out a refined economic approach for the assessment of the compatibility of risk capital measures with the EEA Agreement.
An economic approach is an instrument to better focus and target certain State aid towards the objectives of the re-launched Lisbon Strategy.
This is sometimes termed marginal analysis or the economic approach, to distinguish it from the historical cost method.
Marxism prefers just economic approach, which becomes a substitute and a common denominator for all other disciplines.
The stakeholders' theory can be considered as the most relevant reply to the moral minimalism of Corporate Social Responsibility, which is typical of the economic approach.
Euro MP Catherine Trautmann, S&D shadow rapporteur of parliament's legislative report, said: Having an inventory is a pre-condition for developing a European economic approach to the broader value of the spectrum.

Alternatives:

financial approach
economic analysis
economic perspective
economic viewpoint
economic strategy

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economical approach vs economic approach