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What does economize mean?

Looking for the meaning or definition of the word economize? Here's what it means.

Verb
  1. (intransitive) To practice being economical (by using things sparingly or in moderation, and by avoiding waste or extravagance).
  2. (transitive) To use frugally.
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Examples
While cognitive heuristics allow one to economize on search costs, they also lead to errors.
There is no worrying excess, but efforts to economize should not be abandoned.
It's a starting point, but if it's all you can earn, then you should expect to economize and reduce your expenses while you look for a way to earn a better income.
The father of two children said that he had to economize after the fuel crisis hit the country, including Bandung city, recently.
Initially, stations were located on the fringes of the urban area to ease access and economize on land costs.
First, energy comes at a cost in all economies, and so economic incentives exist to economize on energy use through technological change.

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