Dispensation

(Gr. oikonomia, "management," "economy"). (1.) The method or
scheme according to which God carries out his purposes towards
men is called a dispensation. There are usually reckoned three
dispensations, the Patriarchal, the Mosaic or Jewish, and the
Christian. (See COVENANT T0000916, Administration of.) These
were so many stages in God's unfolding of his purpose of grace
toward men. The word is not found with this meaning in
Scripture.

(2.) A commission to preach the gospel (1 Cor. 9:17; Eph.
1:10; 3:2; Col. 1:25).

Dispensations of Providence are providential events which
affect men either in the way of mercy or of judgement.