Professional Documents
Culture Documents
Vocabulary
Vocabulary
In general, a
conglomerate is a large and diversified company that owns or controls many different businesses in a
variety of industries.
Primogeniture is a system of inheritance rights in which the firstborn son of a family inherits the
majority of the property and status, and any younger sons or daughters may inherit less or nothing.
Feudal society is a social and economic system that developed in Europe after the fall of the Roman
Empire. Feudal societies were also characterized by the concept of loyalty and obligations between lords
and vassals, in which the lord was obligated to protect and support the vassal in exchange for their
fealty.
This transition typically involves the privatization of state-owned enterprises, the reduction of
regulations and subsidies, and the promotion of free trade and foreign investment. Economic
democratization also involves the expansion of access to education, training, and other resources
that enable individuals to participate in the economy on a more equal footing.
However, the process of economic democratization can be complex and can involve a range of
political, social, and economic challenges. In some cases, it may be perceived as a threat to the
interests of those who have traditionally controlled the economy, while in other cases, it may not
go far enough to address existing economic inequalities.
Ransacking refers to the systematic and destructive search and removal of valuables, such as
money or jewelry, from a property, either illegally or during warfare. It can involve the use of
force or violence to gain entry to the property, and can cause significant damage to the property
and its contents. Ransacking can also refer to the act of looting or stealing goods or property
during a riot or other chaos.
A qualm is a feeling of anxiety, misgiving, or doubt about whether one's actions are morally or
ethically correct. It is often associated with a sense of unease or uneasiness that can lead to
hesitation or difficulty in making a decision. In other words, qualms can be considered a form of
inner conflict or moral dilemmas, and may arise due to conflicting values or beliefs.
An expatriate, often shortened to expat, is a person who lives outside their native
country. The term often refers to highly skilled professionals who temporarily or permanently
settle abroad, such as professionals in the fields of engineering, education, or finance. Expat
communities are often formed in countries that attract individuals seeking better job
opportunities, higher living standards, or a more diverse cultural environment.
An arbiter is a person who is appointed or agreed to resolve disputes or have the final
decision in a dispute between two parties. In legal contexts, such as arbitration or mediation, an
arbiter is an independent and impartial individual, usually a retired judge, lawyer or mediator,
who listens to both parties and then makes a decision which is binding on both parties. In other
contexts, such as sports or games, an arbiter is a person appointed by the organizers of the event
to rule on any disputes that may arise during play. ( A dispute is a disagreement or conflict over a
particular matter between two or more parties)
In finance, collateral is something of value, such as a house or a car, that a person provides to
a lender to secure a loan or other debt obligation. The lender can take possession of the collateral
if the borrower defaults on the loan, in which case the lender can sell the collateral to recover at
least part of the debt. Collateral is important because it lessens the lender's risk, since they know
they have some recourse if the borrower defaults on the loan.