Important Vocabulary
- Charity: Institutions or organizations that provide help for people in need
- Legitimacy: Acceptability, according to law or public opinion
- Perfect competition: The situation when there are a large number of sellers and buyers, freedom to enter and leave markets, a complete flow of information, and so on
- Welfare: A condition of general well-being (and government spending designed to achieve this)
- Threatening: Menacing, endangering
- Vitality: Liveliness, health, energy, strength
- Free enterprise: An economic system in which anyone can attempt to raise capital, form a business, and offer goods or services
- Conforming: Complying with or following (rules, etc.)
- Embodied: Expressed, given a material form
- Proponents: Supporters, people who argue in favor of something
Extracted From
MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (2nd ed.). Cambridge University Press.
