Cutting down, eating up

J
ackie and Neil look at how the economic slowdown is affecting what we eat and talk about the language of money and economics.

This week's question: The word 'economy' comes from the Ancient Greek word, 'oikonomia'. What, literally, did the term 'oikonomia' mean? Was it:

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Cutting down, eating up

a) the practice of making money and wealth move around
b) management of a household
c) saving as much money as possible

Listen out for the answer at the end of the programme!

Vocabulary from the programme:
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a recession
a period of significantly reduced economic activity
an economic slowdown / a slump in the economy
a time when the economy isn't doing very well (usually not as serious as a recession)
to cut down
to do less of something e.g. I want to cut down on smoking
‘recession beating’ companies
firms that aren't actually suffering from the recession
budget
low cost e.g. a budget airline, budget food retailers
to expand
to get bigger