Education & Work and the Economy

A set of flashcards covering key vocabulary related to education, work, and economic systems.

Education

A social institution that encompasses formal and informal processes through which individuals learn and develop capacities.

Formal Education

Structured educational systems, typically involving institutionalized learning such as schools and universities.

Informal Education

Unstructured, non-institutional learning processes that occur through daily interactions and experiences.

Educational Attainment

The highest level of education an individual has completed, often reflected in credentials like diplomas and degrees.

Lifelong Learning

The ongoing, voluntary, and self-motivated pursuit of knowledge for personal or professional development.

Neo-liberalism

An economic and political philosophy that emphasizes free-market capitalism, minimal government intervention, and privatization.

Digital Divide

The gap between those who have easy access to digital technology and those who do not, affecting opportunities for education and employment.

Precarious Work

Employment characterized by a lack of stability, security, or benefits, often including part-time, temporary, or contract positions.

Social Reproduction

Unrecorded activities that ensure the daily and generational reproduction of workforces, often involving unpaid labor in households.

Capitalism

An economic system characterized by private ownership, competitive market relations, and the pursuit of profit.

Service Sector

The sector of the economy that provides services rather than goods, including jobs in education, healthcare, and retail.

Corporate Capitalism

An economic structure where corporate entities dominate ownership and control over resources and production.

Occupational Diversification

The increasing variety of jobs available in the labor market, influenced by social and economic changes.

Labour Union

An organization of workers formed to protect and advance their rights and interests through collective bargaining.

World Economy

The interconnected economic activities and relationships between countries and regions, influenced by globalization.

Informal Economy

Economic activities that are not officially recognized or regulated by the government, often involving cash transactions.