UNIDAD EDUCATIVA NUESTRA MADRE DE LA MERCED

Richmond Social Studies

Tenth EGB
VOCABULARY UNIT 3

VOCABULARY
1. Nationalization: The transfer of a major branch of industry or commerce from private to
state ownership or control.
2. Payment: The action or process of paying someone or something or of being paid.
3. Exports: Send (goods or services) to another country for sale.
4. Inflation: A general increase in prices and fall in the purchasing value of money.
5. Dynasty: A line of hereditary rulers of a country.
6. Negotiation: Discussion aimed at reaching an agreement.
7. Enacted laws: The process in a parliament or other law-making body by which the law is
agreed upon and made official.
8. Unemployment: The number or proportion of unemployed people.
9. Anti-communist:  Political and ideological opposition to communism
10. High-ranking military: A system of hierarchical relationships, within armed forces,
police, intelligence agencies or other institutions organized along military.
11. Oligarchy: A small group of people having control of a country, organization, or
institution.
12. Natural Resources: Are resources that are drawn from nature and used with few
modifications.
13. Political instability: The unstable structure of a government and its inclination to collapse
in a short time due to unstable political structures.
14. Human trafficking: The recruitment, transportation, transfer, harboring or receipt of
people through force, fraud or deception, with the aim of exploiting them for profit.
15. Debt: A company or individual who owes money.
16. Livestock farms:  Farm animals, with the exception of poultry.
17. Budget: An estimate of income and expenditure for a set period of time.
18. Hire: To accept employment and begin to work.
19. Monopolization: Complete control of something, which prevents other people or
companies having any share or influence.
20. Neoliberal: Favoring policies that promote free-market capitalism, deregulation, and
reduction in government spending.
21. Privatization: The process by which a piece of property or business goes from being
owned by the government to being privately owned.
22. Market prices: It is the price at which a share of stock or any other security last traded.
23. Free trade: A pact between two or more nations to reduce barriers to imports and exports
among them.