parsimony

noun
par·​si·​mo·​ny | \ ˈpär-sə-ˌmō-nē How to pronounce parsimony (audio) \

Definition of parsimony

1a : the quality of being careful with money or resources : thrift the necessity of wartime parsimony
b : the quality or state of being stingy The charity was surprised by the parsimony of some larger corporations.
2 : economy in the use of means to an end especially : economy of explanation in conformity with Occam's razor the scientific law of parsimony dictates that any example of animal behavior should be interpreted at its simplest, most immediate level — Peter Gorner