Unit 1

the power to control or demand obedience from others

• authority
• compliance
• subordination
• rebellion

the state or fact of owning something

• borrowing
• ownership
• rental
• possession

an economic system based on private ownership

• socialism
• capitalism
• communism
• feudalism

the creating and use of new ideas or methods

• conservatism

• innovation

• stagnation

• tradition

availability of labor

• labor supplies

• government regulations
• technological advancements
• cost of raw materials

what is considered normal and expected about the way people do things in a specific country

• aversion

• tenderness

• candour

• customs

an economy in which private enterprise exists in combination with a considerable amount of government regulation and promotion

• mixed economy
• market economy

• command economy
• traditional economy

property owned by individuals or companies, not by the government or the people as a whole

• private property
• shared property
• government property
• public property

the part of a total amount of something that someone is given to use in a particularway

• allocation

• rejection

• exclusion

• omission

to enter into or take a part in the concerns of others

• to collaborate

• to interfere

• to cooperate

• to support