English Words 1

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Economics

Last updated 7:00 PM on 10/16/26
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54 Terms

1
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welfare

the health, happiness, and fortunes of a person or group; often associated with government support and services aimed at improving living conditions.

2
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broadly

in a general way, without considering specific examples or all the details.

3
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specialisation

a particular area of knowledge or the process of becoming an expert in a particular area

4
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crise

a time of great disagreement, confusion, or suffering

5
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allude to someone/something

mention someone or something without talking about him, her, or it directly

6
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circumstance

a fact or event that makes a situation the way it is

7
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scarcity

a situation in which something is not easy to find or get

8
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assume

to accept something to be true without question or proof

9
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relinquishment

the act of giving up something such as a responsibility, claim, or possession

10
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prerequisite

something that must exist or happen before something else can exist or happen

11
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doomed

certain to fail, die, or be destroyed

12
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forfeit

the action of losing the right to do or have something because you have broken a rule

13
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accordance

following or obeying a rule, law, wish, etc

14
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authoritarian

someone who demands that people obey completely and refuses to allow them freedom to act as they wish

15
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pose

To pose a question is to bring attention to a problem, often in the form of a question

16
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absurd

stupid and unreasonable, or silly in a humorous way:

17
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mutually

felt or done by two or more people or groups in the same way

18
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bargain

something on sale at a lower price than its true value

19
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better off

in a more satisfactory situation than you were before

20
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presuppose

to accept that something is true before it has been proved

21
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assumption

a willingness to accept something as true without question or proof

22
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preconception

an idea or opinion formed before enough information is available to form it correctly

23
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tractable

easily dealt with, controlled, or persuaded

24
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isolate

to separate something from other things with which it is connected or mixed

25
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constitute

to be the parts that form something

26
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emergence

the fact of something becoming known or starting to exist

27
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explicit

clear and exact

28
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aggregate

something formed by adding together several amounts or things

29
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distribution

the process of giving things out to several people, or spreading or supplying something:

30
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pluralism

the existence of different types of people, who have different beliefs and opinions, within the same society

31
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Monism

attributes oneness or singleness to a concept, such as existence

32
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fundamental

forming the base, from which everything else develops

33
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contradiction

the fact of something being the complete opposite of something else or very different from something else, so that one of them must be wrong

34
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emphasis

special attention given to something because it is important or because you want it to be noticed, or an example of this

35
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hence

that is the reason or explanation for

36
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irrespective

without considering; not needing to allow for

37
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thus

in this way, or with this result:

38
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unveil

If you unveil something new, you show it or make it known for the first time

39
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conception

an idea of what something or someone is like, or a basic understanding of a situation or a principle

40
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agenda

a list of matters to be discussed at a meeting

41
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prospects

the possibility of being successful, especially at work

42
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conventionally

in a way that is traditional and ordinary:

43
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sustain

to cause or allow something to continue for a period of time

44
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prescription

a piece of paper or an electronic document on which a doctor writes the details of the medicine or other treatment that someone needs:

45
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forecasting

the job or activity of judging what is likely to happen in the future, based on the information you have now

46
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prominent

very noticeable, important, or famous:

47
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inaugurate

to put something such as a service, system, etc. into action officially

48
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world view

a way of thinking about the world:

49
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capacity

the total amount that can be contained or produced:

50
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consumption

the amount used or eaten

51
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emerge

to appear by coming out of something or out from behind something:

52
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merely

used to emphasize that you mean exactly what you are saying and nothing more

53
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plurality

a large number of different types of something:

54
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emanate

to express a quality or feeling through the way that you look and behave