What does Ockham’s razor mean in William of Ockham’s philosophy?

In the philosophy of William of Ockham, Ockham’s razor is a principle of economy expressed by the Latin phrase pluralitas non est ponenda sine necessitate, meaning "plurality should not be posited without necessity."12

This principle dictates that of two competing theories, the simpler explanation is to be preferred, and entities should not be multiplied beyond what is necessary to explain a phenomenon. While the concept was used by other thinkers before him, Ockham employed it with such frequency and precision to challenge the complex metaphysical systems of his contemporaries that it became synonymous with his name.123

Ockham used this "razor" to eliminate various entities that he deemed unnecessary, such as:
* Relations: He argued these are not distinct from the things they relate.1
* Efficient causality: He viewed this as regular succession rather than a separate entity.1
* Motion: He defined this simply as a thing reappearing in a different place.1
* Psychological powers: He rejected distinct powers for each mode of sensation.1
* Divine ideas: He argued that ideas in the mind of the Creator are not distinct models but are the creatures themselves.1