CHAPTER 11 POLITICS AND THE ECONOMY TER Essay

CHAPTER 11 POLITICS AND THE ECONOMY TER Essay CHAPTER 11 POLITICS AND THE ECONOMY TER Essay CHAPTER 11 POLITICS AND THE ECONOMY TERMS AND PEOPLE TO KNOW BARTER- The exchange of goods and services for other goods or services, without exchanging money. CAPITALISM- An economic system where individuals own the means of production, based on competition the owners determine production and set prices, and the pursuit of profit is the reason for distributing goods and services. CONSPICUOUS CONSUMPTION- Thorstein Veblen’s term for a change from the protestant ethic to an eagerness to show off wealth by the consumption of goods. CONVERGENCE THEORY- The view that as capitalist and socialist economic systems each adopt features of the other, a hybrid for economic system will emerge. CORPORATIONS- a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. CURRENCY- a system of money in general use in a particular country. DEMOCRATIC SOCIALISM- A hybrid economic system in which the individual ownership of businesses is mixed with the state ownership of industries thought essential to the public welfare, such as the postal service and the delivery of medicine and utilities. E-CASH- electronic financial transactions conducted in cyberspace via computer networks. ECONOMY- A system of producing and distributing goods and services. GOLD STANDARD- the system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged. The gold standard was generally abandoned in the Depression of the 1930s. GROSS DOMESTIC PRODUCT- the total value of goods produced and services provided in a country during one year. INFLATION- a general increase in prices and fall in the purchasing value of money. LAISSEZ-FAIRE CAPITALISM- Unrestrained manufacture and trade (literally, â€Å"hands off† capitalism). MARKET FORCES- The law of supply and demand. MEDIUM OF EXCHANGE- An intermediary instrument used to facilitate the sale, purchase or trade of goods between parties. In modern economies the medium of exchange is currency. MONOPOLY- Complete control of the entire supply of goods or of a service in a certain area or market. SOCIALISM- An economic system characterized by the public ownership of the means of production, central planning, and the distribution of goods without a profit motive. SUBSISTENCE ECONOMY- A type of economy

Pleasing Words

Pleasing Words Pleasing Words Pleasing Words By Mark Nichol The Latin verb placere, meaning â€Å"be acceptable† or â€Å"be liked,† is the source of a number of English words pertaining to agreeability. This post lists and defines these terms. The verb please, meaning â€Å"be agreeable,† is from plaisir, the Old French intermediary of placere, which is also the origin of pleasure, meaning â€Å"give pleasure to† and, as a noun, â€Å"enjoyment† or â€Å"something enjoyed.† (The synonym pleasance is rare.) Please, as an adverb, also precedes or follows a request (â€Å"Please close the door†) or an affirmation (â€Å"Yes, please†) to make it more courteous but can also express derision (â€Å"Oh, please†). The antonyms of the verb and noun, respectively, are displease and displeasure. Something that pleases is pleasing, and someone who pleases is a pleaser. Placebo was adopted directly from a Latin term meaning â€Å"I will please.† The word refers to a substance given to a patient for mental rather than physical relief (because the patient is deceived into thinking that the placebo will have an effect on an imagined or exaggerated condition). It also applies to a similarly innocuous substance given to members of a control group in an experiment to help evaluate the effectiveness of a drug taken by test subjects; if the drug is determined to be more effective than the placebo, it is efficacious. Another close relative is the adjective pleasant, meaning â€Å"agreeable,† the antonym of which is unpleasant. A pleasantry is a polite remark made during a social occasion, or a humorous or playful one. Meanwhile, plea is also descended from placere, by way of placitum, meaning â€Å"decree† or â€Å"opinion†; the evolution of the sense is from â€Å"something agreed on because it pleases† to â€Å"something decided.† The verb form, plead, originally applied exclusively to making a plea in court but was later extended to apply to an urgent request; pleading developed as a noun from the first sense, describing the act of arguing a case. Complacence originally meant â€Å"pleasure† but came to pertain to a lack of concern or to self-satisfaction; the variation complacency has the negative connotation of clueless complacence. The homophone complaisance is a direct borrowing from Middle French meaning â€Å"desire to please.† The adjectival forms are complacent and complaisant. Placid, from placere by way of placidus, meaning â€Å"peaceful,† retains the Latin meaning. (The noun form is placidity.) The Latin verb placare, meaning â€Å"appease† or â€Å"assuage,† is related; it is the source of placate, which retains those meanings. The adjectival form is placatory, and the act is called placation. Placable is an alternative adjective, though it is rare; the antonym, implacable, is more common. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Punctuating â€Å"So† at the Beginning of a SentenceEmpathy "With" or Empathy "For"?30 Words for Small Amounts