What does "economization" mean?

The act or practice of using resources to the best effect.

Economization

Common synonyms include: cheeseparing, curtailment, cutback, economize energy, economizing, retrenchment.

noun

noun ·Rare ·Advanced level

Noun

1
The act or practice of using resources to the best effect. countable, uncountable

From economize + -ation.