Quick answer
Economic relates to the economy or to economics — economic growth, economic policy. Economical means thrifty or efficient: not wasteful. An economic decision concerns the economy; an economical one saves money.
The core difference
One is a subject area; the other is a virtue.
- economic — of the economy: economic downturn, economic sanctions.
- economical — thrifty, efficient: an economical car, economical with materials.
Where the difference bites
"An economic solution" suggests one relating to the economy; "an economical solution" means a cheap one. In business writing that is a real ambiguity, because a proposal can be either or both.
The phrase
Economical with the truth is a well-known euphemism for misleading by omission — using the thrift sense, and using it drily. It entered wide circulation from a 1986 British court case.
Frequently asked questions
Which word means cheap to run?
Economical. Economic relates to the economy.
Is an economic car the same as an economical one?
No. An economical car is cheap to run; "economic car" would suggest something relating to the economy.
What does "economical with the truth" mean?
Misleading by leaving things out — a dry euphemism using the thrift sense of the word.
