"History is past politics, and politics present history." John Robert Seeley

"The farther backward you can look, the farther forward you can see." Winston Churchill

"What we have to learn to do, we learn by doing." Aristotle

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Key Phrasal Verbs:

  1. Set up
  2. Take off
  3. Counting on
  4. Let someone down
  5. Break down*
  6. Get with
  7. Come up against
  8. Come up with
  9. Set out to
  10. Make up
  11. Put forward
  12. Put up with
  13. Give in
  14. Look up to
  15. Give your time to
  16. Look after
  17. To back someone up
  18. To get up to speed
  19. Cut back/down on
  20. Cut out
  21. Put off
  22. Call off
  23. Run out of
  24. Use up
  25. Fill in
  26. Draw a line under
  27. To make a case for/ To argue your case/ to argue your point
  28. To point out something
  29. To break something down
  30. To figure something out
  31. To look into something
  32. To look something over
  33. To look something up
  34. To make something up
  35. To run through something
  36. To think something over
  37. To try out something
  38. To get down to something
  39. To check over something
  40. To put something to the test 

 

Vocabulary of Economics:

Globalisation – Consumerism – Capitalism – International Trading

ProducersManufacturersExportersImportersWholesalersRetailersConsumers

  • Farmers produce dairy products by rearing cattle and selling their milk and meat
  • Manufacturers make goods such as tvs, iPods, furniture, medical equipment etc. for sale in the market.
  • Exporters package & transport goods (export) by air, land & sea to foreign countries for sale in those marketplaces.
  • Importers import goods produced in other countries into their ow country for sale to consumers in their marketplace.
  • Wholesalers buy goods in bulk from importers & producers to sell only to retailers.
  • Retailers sell their goods to the consumers directly.
  • Consumers buy & consume (use up) the goods they buy.

 

The ‘Haves’ & the ‘Have-Nots’

  • One of the effects of globalisation is the increasing disparity between the ‘haves’ and the ‘have-nots’.
    Why is this disparity increasing with globalisation?

– Rich companies invest in cheap labour in poorer countries to increase their profit margin.
– These poorer countries benefit, as an economy, from large-scale income inequality. Most workers in these countries receive very little pay and work in poor conditions, which make them attractive to large globalised companies looking to cut down costs of manufacturing.
– The wealthiest countries consume most of the natural resources in the world.
– Globalisation is exploited by large companies to cut costs and maximise profits.
– Typically, the Western World (North America & Europe) are the ‘Haves’ with many African & Asian countries being the ‘Have-nots’.
– Developing countries try to attract as many foreign companies as possible, but often their citizens suffer poor conditions and low pay.

Haves‘: – Consumerism & Consumption – Greed – Individualism – DEMAND – Wealth – Credit – Loans – Purchases – Brand Awareness – Spending – Dispose of & Replace (Use up) – latest trends – gadgets – pollution – needs – wants – plenty – fast food – selection – choice – debt

The Have-Nots‘: – Poverty – Exploitation – Low wages / cheap labour – Exclusion – Manual Labour – Poor working conditions – job insecurity – hunger – need – homelessness – refugees – starvation – (excessive national debts + cash crops = endless cycle of poverty & hunger) – pollution –

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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