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constitute
to make up; be the parts of
default
to fail to do something required
predominant
most common or most noticeable
prerequisite
something required beforehand
confiscate
to seize with authority; legally take possession of
decipher
to interpret or read (something confusing or hard to make out)
nominal
slight; very small compared with what might be expected
concurrent
happening or existing at the same time; simultaneous
recession
a temporary decline in business
hypothetical
supposed for the sake of argument or examination; imaginary; theoretical