Economic Development

verb to gather or collect over time

• Over time, interest will accumulate on your savings account.
• If you keep spending without saving, debt will accumulate quickly.
• I need to stop buying so much stuff or my clutter will accumulate.
• Small acts of kindness can accumulate and make a big impact on someone's life.

noun a television show that aired from 2003 to 2019, known for its unique humor and storytelling

• The psychologist diagnosed the patient with arrested development, indicating a lack of emotional growth.
• My brother still acts like a teenager at 30, it's like he's stuck in arrested development.
• She's been in arrested development since high school, never growing up or taking responsibility.
• The town's economy has been in arrested development for years, unable to progress or improve.

noun a useful or valuable thing, person, or quality

adjective relating to or describing something that is valuable or beneficial

• The company's assets include real estate, equipment, and intellectual property.
• She's got some serious assets - a nice car, a big house, you name it.
• Check out his assets, he's loaded!
• Her assets go beyond just money; she has a wealth of knowledge and experience.

verb to cause someone or something to come closer or be drawn towards something

• The new marketing campaign is designed to attract more customers to the store.
• The new store layout is really attracting a lot of people.
• That new movie is really attracting a crowd.
• Her positive energy and confidence really attract success.

noun a body of water that is stagnant or flowing slowly

• The small town was considered a backwater compared to the bustling city nearby.
• I never thought I'd end up in this backwater town, but it's actually quite charming.
• This place is such a backwater, there's nothing to do here.
• His mind was like a backwater, stagnant and devoid of new ideas.

noun a thing that spoils or damages something

verb to spoil, harm, or destroy

• The blight on the crops caused a significant decrease in yield this year.
• The blight really messed up the plants this season.
• That blight totally wrecked the harvest.
• The blight of corruption spread through the company, causing chaos and distrust among employees.

noun a group or organization of business people who work together to promote and protect the interests of local businesses

preposition a word that shows the relationship between a noun (chamber) and another word in the sentence (commerce)

• The local chamber of commerce is hosting a networking event for business owners.
• I heard the chamber of commerce is throwing a party next week.
• The chamber of commerce is all about connecting businesses and making things happen.
• The chamber of commerce serves as a bridge between the government and the business community.

noun the act or process of diversifying; state of being diversified

adjective relating to or involving diversification

• The company decided to pursue diversification in order to reduce risk and explore new opportunities.
• I heard that they're looking into diversification to mix things up a bit.
• They're thinking about switching things up with some diversification.
• Diversification is like planting different seeds in your financial garden to ensure a bountiful harvest.

noun the act of providing funding for a project or business

verb to provide funding for a project or business

• The company secured external financing to support their expansion plans.
• I'm looking into financing options for my new car.
• I need to figure out how to finance this project.
• His charisma was the financing behind his successful political campaign.

noun A person engaged in the ownership or management of an industry

• The industrialist invested heavily in new technologies to improve production efficiency.
• The industrialist is always looking for ways to make more money.
• That industrialist is rolling in dough from all his factories.
• The industrialist was a captain of industry, leading the charge in innovation and growth.

noun a region in the Americas that includes Mexico and Central America

adjective referring to the region of Middle America

• Middle America is often referred to as the region between the East and West Coasts of the United States.
• People in Middle America tend to have a more laid-back lifestyle compared to those in big cities.
• Middle America is where you'll find some of the best comfort food in the country.
• In the political landscape, Middle America is seen as a crucial voting bloc.

noun a boat that travels regularly between two ports

• The packet boat was a common mode of transportation for mail and passengers in the 18th and 19th centuries.
• We took a ride on the old packet boat down the river for a fun day out.
• Let's hop on the packet boat and cruise around the lake for a bit.
• The team worked together like a well-oiled packet boat, smoothly navigating through the project.

noun a group of islands in the Caribbean Sea, including the Greater Antilles and the Lesser Antilles

• The West Indies is a group of islands in the Caribbean Sea.
• I'm planning a vacation to the West Indies next summer.
• Let's hit up the West Indies for some fun in the sun!
• The West Indies is like a treasure trove of natural beauty and cultural diversity.

noun a single crop or plant grown in a large area, typically in agriculture or forestry

• The agricultural practice of monoculture involves planting large areas with the same crop.
• Growing only one type of crop in a field is called monoculture.
• Monoculture farming is like putting all your eggs in one basket.
• In a society that values diversity, monoculture can be seen as limiting and narrow-minded.

noun a country in Central Europe, formerly part of Czechoslovakia

adjective relating to Czechia or its people

• Czechia is a landlocked country in Central Europe known for its rich history and beautiful architecture.
• Have you ever been to Czechia? It's a really cool place to visit.
• Let's plan a trip to Czechia, I heard the nightlife there is amazing!
• The beauty of Czechia is like a hidden gem waiting to be discovered by travelers.

noun The term 'Celtic tiger' refers to a period of rapid economic growth in Ireland during the late 1990s and early 2000s.

• The Celtic Tiger refers to the period of rapid economic growth in Ireland during the late 1990s and early 2000s.
• Everyone was talking about the Celtic Tiger back in the day, when Ireland's economy was booming.
• The Celtic Tiger was roaring in Ireland when everything seemed to be going well economically.
• The Celtic Tiger may have gone quiet in recent years, but its impact on Ireland's economy is still felt.

noun the process of adopting or using the US dollar as the official currency of a country

• The process of dollarization involves a country adopting the US dollar as its official currency.
• Dollarization is when a country starts using the US dollar instead of their own currency.
• Some people believe that dollarization is a way for countries to stabilize their economies.
• In the world of finance, dollarization is seen as a way to attract foreign investment.