Economic Principles

noun an amount or portion of a resource that is assigned to a particular recipient or purpose

• The allocation of resources was carefully planned to ensure efficiency.
• They divvied up the tasks among the team members.
• They split up the work like a boss.
• The allocation of time is like dividing a pie, everyone gets a slice.

noun a point at which gains equal losses

verb to reach a point where gains equal losses

• The company needs to increase sales in order to break even this quarter.
• We won't make any profit until we break even on our investment.
• We're not gonna see any money until we hit that break-even point.
• Sometimes in life, you have to endure tough times before you can break even and start seeing success.

noun the quality or state of being circular; roundness or the condition of forming a circle

• The concept of circularity in economics refers to the continuous flow of money within an economy.
• I'm starting to see a pattern of circularity in our conversations, we keep coming back to the same topics.
• It's like a never-ending loop, just going around in circles, that's the circularity of it all.
• The circularity of life is evident in how history tends to repeat itself.

noun a political philosophy or attitude emphasizing respect for traditional institutions, distrust of government activism, and opposition to sudden change in the established order

• Conservatism is a political and social philosophy promoting traditional values and institutions.
• Some people believe that conservatism is outdated and resistant to change.
• I don't understand why some folks are so stuck in their conservatism.
• In a world of constant change, conservatism can sometimes feel like trying to swim against the tide.

noun a custom or tradition

adjective relating to a custom or tradition

• It is customary to shake hands when meeting someone for the first time.
• It's customary to bring a gift to the party.
• It's just customary to give a high-five after a job well done.
• In this culture, it is customary to bow as a sign of respect.

verb to make or become equal

adjective pertaining to the act of equalizing

• The government is working on equalizing opportunities for all citizens.
• I think we should focus on equalizing the playing field.
• Let's make sure we're all on the same page and equalizing things.
• In chess, equalizing the position is crucial before launching an attack.

noun an internal tax imposed on the production, sale, or consumption of a commodity within a country

verb to impose an excise on

• The government decided to excise certain items from the budget in order to reduce spending.
• I heard they're going to excise some unnecessary expenses from the budget.
• They're gonna cut out some stuff from the budget to excise the waste.
• Sometimes we need to excise toxic people from our lives in order to move forward.

noun the value of something as it is stated or appears, without considering any other factors

adjective referring to the stated or apparent value of something

• It is important to consider the face value of the data before drawing any conclusions.
• Don't just take things at face value, there might be more to it than meets the eye.
• You can't judge a book by its cover, always look beyond face value.
• Her smile may seem genuine at face value, but there could be hidden emotions underneath.

adverb fundamentally is an adverb that modifies a verb, adjective, or other adverb, typically indicating the manner in which something is done or the extent to which something is true.

• The success of the project is fundamentally dependent on proper planning and execution.
• I think he's fundamentally a good person, despite his flaws.
• She's fundamentally chill, you'll get along with her just fine.
• The roots of their friendship are fundamentally strong, nothing can break it.

verb to remain valid or applicable; to be true or reliable

• The legal principles established in the previous case still hold good in this situation.
• The rules we set last time still hold good for this game.
• The plan we made yesterday still holds good for our trip.
• The advice she gave me years ago still holds good in my heart.

verb to remain valid or applicable; to be accurate or correct

• In scientific research, the hypothesis must be tested rigorously to determine if it holds true.
• I always thought that saying about early birds getting the worm was just a myth, but turns out it holds true.
• Dude, I'm telling you, the rumors about that party are totally gonna hold true.
• Sometimes in life, the idea of 'what goes around comes around' really does hold true.

noun the state of being idle; laziness or inactivity

• Idleness is often seen as a waste of time and resources in the workplace.
• Stop your idleness and start being productive!
• Quit your idleness and get off your butt!
• Idleness is like a stagnant pond, breeding mosquitoes of laziness and complacency.

noun lack of foresight or thoughtfulness; failure to plan ahead

• The company suffered greatly due to the manager's improvidence in budgeting.
• His improvidence with money always gets him into trouble.
• She's always broke because of her improvidence.
• The improvidence of neglecting to maintain relationships can lead to loneliness.

noun a word that represents a person, place, thing, or idea

adverb a word that modifies a verb, adjective, or other adverb, indicating the manner, place, time, or degree of an action

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence

• The company offered a generous salary in return for her expertise.
• I'll help you with your project, and in return, you can give me a hand with mine.
• I'll cover your shift tonight, but in return, you owe me a favor.
• He gave her his heart, and in return, she broke it into a million pieces.

noun a quantity or quality that is too large or too small to be measured or compared

adjective not able to be judged by the same standard as something else; not comparable

• The differences in their opinions were incommensurable, making it difficult to find a common ground.
• Their tastes in music are just incommensurable, they can never agree on what to listen to.
• Their styles are incommensurable, they just don't vibe together.
• The distance between them felt incommensurable, like they were worlds apart.

noun a social theory favoring freedom of action for individuals over collective or state control

• Individualism is a key principle in many Western societies, emphasizing personal independence and self-reliance.
• Some people really value individualism and prefer to do things on their own instead of relying on others.
• I'm all about that individualism life - I do me and you do you.
• In a world full of conformity, individualism shines like a beacon of authenticity.

noun a person or thing that cannot be divided or separated

adjective unable to be divided or separated

• The concept of human rights is based on the belief that they are indivisible and inalienable.
• Our friendship is indivisible, no matter what challenges come our way.
• Me and my bestie are like, totally indivisible - we're like two peas in a pod.
• The bond between mother and child is often described as an indivisible connection that transcends time and space.

noun a thing that persuades or influences someone to do something

adjective inducing or persuading

• The company offered a financial inducement to attract top talent.
• They gave me a bonus as an inducement to stay at the job.
• I was tempted by the sweet inducement of free concert tickets.
• The promise of adventure was the inducement that led her to leave her comfortable life behind.

noun the quality or condition of being insular

• The insularity of the small island community made it difficult for outsiders to integrate.
• Living on a remote island can lead to a sense of insularity.
• Some people in this town have a real insularity about them, like they think they're better than everyone else.
• His insularity prevented him from seeing the bigger picture and understanding different perspectives.

noun a whole or entire unit

adjective necessary for completeness; essential

• Understanding the integral components of this complex system is crucial for its successful operation.
• Being a team player is integral to succeeding in this company.
• Dude, having good vibes is integral to having a great time at the party.
• Patience is integral in building strong relationships with others.

noun the way in which two or more things have an effect on each other

verb not applicable

adjective not applicable

adverb not applicable

pronoun not applicable

preposition not applicable

conjunction not applicable

interjection not applicable

article not applicable

• The success of the project relied heavily on the interplay between different departments.
• The party was a blast thanks to the interplay of music and dancing.
• The interplay of flavors in this dish is off the charts!
• The interplay of light and shadow created a beautiful effect in the painting.

noun the state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

• The concept of liberty is deeply ingrained in our constitution.
• I love the feeling of liberty when I ride my motorcycle on an open road.
• Dude, let's hit the road and experience some sweet liberty!
• She felt a sense of liberty when she finally let go of her past regrets.

noun a word that represents a person, place, thing, or idea

verb a word that expresses an action or state of being

preposition a word that shows the relationship between a noun or pronoun and other words in a sentence

• Many families struggle to make ends meet with the rising cost of living.
• It's tough to make ends meet when rent keeps going up.
• I'm always hustling to make ends meet at the end of the month.
• Juggling multiple jobs is how she manages to make ends meet in this economy.

noun the greatest or highest possible amount, degree, or intensity

adjective as great, high, or intense as possible or permitted

• The maximum weight limit for this elevator is 2000 pounds.
• I can only stay for a maximum of two hours.
• I'm gonna give it my all and go for the maximum score.
• She reached the maximum level of frustration and couldn't take it anymore.

adjective a term used to describe something that is so small or insignificant that it can be disregarded or considered unimportant

• The impact of the new regulations on the economy is considered negligible.
• Don't worry about it, the difference it makes is negligible.
• It's no biggie, the amount is negligible.
• Her presence in the meeting was negligible, like a ghost in the room.

verb a word used to describe an action, state, or occurrence, such as 'buy' which is the main action in this phrase

adverb a word that modifies a verb, providing more information about the action being performed, such as 'not' which negates the action of buying

• I decided to not buy the product after reading the negative reviews.
• I'm gonna pass on buying that, it doesn't seem worth it.
• I'm not gonna drop cash on that, it's a rip-off.
• I chose to not buy into the hype surrounding the new gadget.

noun the value assigned to a security when it is issued

• The bonds were issued at par value, meaning they were sold for their face value.
• I bought the shares at par value because I believe they are worth it.
• I snagged these stocks at par value, can't believe my luck!
• Her kindness towards others is truly at par value, unmatched by anyone else.

noun a person or business that lends money in exchange for personal property that is left as security

• The pawnbroker appraised the value of the antique jewelry before offering a loan.
• I took my old guitar to the pawnbroker to see how much I could get for it.
• I found a sweet deal on a watch at the pawnbroker's shop.
• In the game of chess, the pawnbroker can be a strategic piece to sacrifice for a greater gain.

verb to assume as a fact or principle; to put forward as a basis for argument

• It is important to posit a well-reasoned argument in academic writing.
• I posit that we should go out for dinner tonight.
• I'm just gonna posit that we grab some pizza and call it a night.
• She likes to posit herself as a leader among her peers.

noun a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something

preposition a word governing, and usually preceding, a noun or pronoun and expressing a relation to another word or element in the clause

• Businesses can profit by implementing cost-saving measures.
• You can profit by selling those old textbooks online.
• I heard you can profit by flipping sneakers on the resale market.
• We can profit by learning from our mistakes and growing as individuals.

adjective relating to, based on, or involving proportion

• The amount of tax you pay is directly proportional to your income.
• The more hours you work, the more money you make - it's proportional.
• If you study harder, your grades will go up in a proportional way.
• In relationships, trust should be proportional to loyalty.

noun a very high rent that is set at the full market value without any reduction or subsidy

• The landlord was accused of charging rack rent for the small apartment.
• The landlord is totally ripping us off with that rack rent!
• I can't believe the rack rent on this place, it's highway robbery!
• Paying such high rack rent feels like getting robbed every month.

noun a belief or theory that opinions and actions should be based on reason and knowledge rather than on religious belief or emotional response

• Rationalism is a philosophical belief that reason is the primary source of knowledge and truth.
• Some people believe in rationalism, which means they rely on logic and reason to understand the world.
• Rationalism is all about using your brain to figure things out.
• In a world full of chaos, rationalism serves as a guiding light to make sense of things.

noun the act of giving or taking mutually; interchange

adjective reciprocative

• Reciprocation of kindness is essential in building strong relationships.
• If someone does you a favor, it's only fair to offer reciprocation.
• You scratch my back, I'll scratch yours - that's how reciprocation works.
• In the dance of social interactions, reciprocation is the rhythm that keeps us moving forward.

noun A branch of science that deals with human behavior in its social and cultural aspects

• The study of human society and social relationships falls under the umbrella of social science.
• Social science is all about understanding how people interact with each other in society.
• I'm taking a class on social science this semester, it's pretty interesting stuff.
• Exploring the complexities of human behavior is like delving into the depths of social science.

noun the quality or state of being tangible; perceptible by touch; capable of being touched or felt

• The tangibility of the financial report made it easier for investors to understand the company's performance.
• I love seeing the tangibility of my hard work pay off in the form of a successful project.
• The tangibility of his apology was clear when he brought me my favorite coffee as a peace offering.
• The tangibility of her emotions was evident in the way she expressed herself through her artwork.

noun a system of supports beneath a structure; a foundation or basis for something

• The research paper explores the theoretical underpinnings of the economic model.
• She didn't understand the underpinnings of the argument.
• I'm still trying to wrap my head around the underpinnings of this theory.
• The underpinnings of their relationship were strong, despite facing many challenges.

adjective not absolutely necessary; not essential

• The committee decided to remove the unessential details from the report to make it more concise.
• I always skip the unessential parts of a movie and just watch the main plot.
• I don't have time for all the unessential drama in my life.
• In order to focus on what truly matters, we must learn to let go of the unessential distractions.

noun a person who believes in or advocates the doctrine of utility

adjective relating to or advocating utility or usefulness

• The utilitarian approach to ethics focuses on maximizing overall happiness.
• She prefers a utilitarian design for her kitchen, with practical and functional elements.
• I'm all about that utilitarian life - give me clothes with lots of pockets!
• His writing style is very utilitarian, getting straight to the point without any unnecessary embellishments.

noun the study of the ways in which humans and animals behave, including the influences that govern behavior

• The study of human behaviour through systematic observation and experimentation is known as behavioural science.
• I find it fascinating how behavioural science can help us understand why people act the way they do.
• Diving into the world of behavioural science really opens your eyes to how people think and behave.
• In a way, behavioural science is like a roadmap to understanding the complexities of human nature.

adjective describing someone who is primarily focused on money and material possessions

• The new CEO is often criticized for being too money-minded and not taking into account the long-term impact of his decisions.
• My aunt is so money-minded that she never misses a chance to save a few bucks, even if it means compromising on quality.
• I don't trust that money-minded guy, he always seems to have an agenda when it comes to finances.
• Being money-minded is like wearing blinders that only allow you to see the dollar signs and not the bigger picture.

noun A Latin phrase meaning 'dominion over things' or 'ownership of property'

• The concept of dominium rerum refers to the legal ownership of property.
• Dominium rerum basically means owning stuff.
• Having dominium rerum is like being the boss of your things.
• In life, we all strive to achieve dominium rerum over our own destinies.

noun a combination of the number 4 and the letter E, typically used as an abbreviation or code

adjective describing something related to or associated with the combination of the number 4 and the letter E

• The 4E framework is commonly used in business strategy analysis.
• I have to study the 4E model for my marketing class.
• I'm so over the 4E stuff, it's too complicated.
• In order to succeed, you need to have all 4E's in place: efficiency, effectiveness, economy, and ethics.

noun a word that represents a person, place, thing, or idea

adjective a word that describes or modifies a noun or pronoun

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence

conjunction a word that connects words, phrases, or clauses in a sentence

interjection a word or phrase that expresses a sudden or strong feeling or emotion

article a word that is used to specify a noun, indicating the type of reference being made to the noun

• It is always better to have half a loaf than no bread at all.
• Hey, at least we got half a loaf, better than nothing!
• Half a loaf is better than being completely broke.
• In tough times, remember that half a loaf is better than no bread.

noun A word that represents a person, place, thing, or idea. In this case, 'price' is a noun that refers to the amount of money that is asked for or paid for something.

adjective A word that describes or modifies a noun. In this case, 'fair' is an adjective that describes the market price as being just, reasonable, or equitable.

• The seller is asking for a fair market price for the antique furniture.
• I think we got a good deal on the car, it was priced at a fair market price.
• I made sure to haggle a bit to get the item at a fair market price.
• In the world of art auctions, fair market price can sometimes be subjective.

noun a condition in which society provides little moral guidance to individuals

• The sociologist Durkheim used the term 'anomie' to describe a state of normlessness or lack of social cohesion.
• When people feel lost and disconnected from society, they may experience anomie.
• Anomie can make you feel like you're in a funk with no direction.
• In the fast-paced city life, it's easy to get caught up in the anomie of constantly striving for more.

noun money that is obtained through a loan secured by a physical asset or collateral

adjective difficult to earn or acquire

• Hard money refers to funds that are acquired through a direct loan rather than through a traditional mortgage from a financial institution.
• I had to borrow hard money from my friend to cover the unexpected expenses.
• I'm running low on cash, do you think you could lend me some hard money?
• In politics, candidates often rely on hard money to fund their campaigns and gain support.

noun a word that represents a person, place, thing, or idea

adjective a word that describes or modifies a noun or pronoun

• In order to ensure success, we must strive to work at the absolute minimum level of error.
• I always aim to do the absolute minimum required for my assignments.
• I'm just gonna do the bare minimum, no need to go above and beyond.
• He reached his absolute minimum in terms of motivation and productivity.

adjective characterized by gradual accumulation or growth

• The company's success was a result of the accumulative efforts of all its employees.
• The savings account grows through accumulative interest over time.
• I can't believe the accumulative amount of homework we have this week.
• The accumulative weight of her responsibilities was starting to take its toll on her.

adverb describes how something is done in an additive manner

• The two chemicals react additively to produce a new compound.
• You can mix the ingredients additively to get the desired flavor.
• Just keep adding the toppings additively until it tastes right.
• His determination and hard work additively led to his success.

noun the quality or state of being additive, especially in the context of mathematics or chemistry

• The principle of additivity states that the total value is the sum of its parts.
• If you want to double the recipe, just remember the additivity rule and double all the ingredients.
• Dude, it's like additivity is the key to making the perfect mix for your music playlist.
• In life, sometimes additivity can lead to greater success when you combine different skills and experiences.

noun a Latin word meaning 'equal' or 'just'

adjective describing something as being equal or just

• The principle of aequi et boni is fundamental in Roman law.
• The aequi et boni principle basically means fairness and good faith.
• You gotta play aequi or you'll get burned in this business.
• In life, finding aequi between work and play is essential for balance.