Wealth, poverty and welfare key words pt 1

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  • Created by: Frankie
  • Created on: 26-04-15 21:05

1. no economic intervention or regulation by the state, except to enforce private contracts and the ownership of property

  • free chicken
  • free market
  • free country
  • free economy
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2. a shared agreement

  • consensus
  • playing nice
  • democracy
  • politics

3. Working and waiting a while before getting the reward

  • immediate gratification
  • deferred gratification
  • deferbed gratification
  • deferral gratification

4. How one aspect of poverty can lead to further poverty building up into a cycle which is hard to escape from

  • deprivation cycle
  • cycle of deprivation
  • cycle of dependency
  • cycle of poverty

5. An economic system where employers buy workers labour in return for wages, and sell the worker's product for profit

  • capitalism
  • communism
  • weberianism
  • reality


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