Definition, Meaning & Synonyms

economical option

noun

ɪˌkɒn.əˈmɪk.əl ˈɒp.ʃən

Definition

A choice or alternative that minimizes costs while maximizing efficiency or value.

Examples

Choosing public transportation is often the most economical option for daily commuting.
When planning your vacation, consider the all-inclusive package as an economical option.
Investing in energy-efficient appliances is an economical option for reducing utility bills.

Meaning

The term ‘economical option’ refers to a selection that is budget-friendly and offers the best possible return on investment or utility with the least amount of expenditure.