Webster's Revised Unabridged Dictionary · 1913

Economic

Economic (?; 277) , adjective

[French économique, Latin oeconomicus orderly, methodical, Greek {not transcribed} economical. See Economy.]

1.
Pertaining to the household; domestic.
In this economical misfortune [of ill-assorted matrimony.] — Milton
2.
Relating to domestic economy, or to the management of household affairs.
And doth employ her economic art And busy care, her household to preserve. — Sir J. Davies
3.
Managing with frugality; guarding against waste or unnecessary expense; careful and frugal in management and in expenditure; -- said of character or habits.
Just rich enough, with economic care, To save a pittance. — Harte
4.
Managed with frugality; not marked with waste or extravagance; using the minimum of time or effort or resources required for effectiveness; frugal; -- said of acts; saving; as, an economical use of money or of time; an economic use of home heating oil.
5.
of or pertaining to the national or regional economy; relating to political economy; relating to the means of living, or the resources and wealth of a country; relating to the production or consumption of goods and services of a nation or region; as, economic growth; economic purposes; economical truths; an economic downturn.
These matters economical and political. — J. C. Shairp
There was no economical distress in England to prompt the enterprises of colonization. — Palfrey
Economic questions, such as money, usury, taxes, lands, and the employment of the people. — H. C. Baird
6.
Regulative; relating to the adaptation of means to an end. — Grew
7.
of or pertaining to economics.
8.
profitable. Opposite of uneconomic.
9.
avoiding waste; as, an economical meal. Opposite of wasteful.

Economical is the usual form when meaning frugal, saving; economic is the form commonly used when meaning pertaining to the management of a household, or of public affairs.

Also: Economical