Economic Principles Vocabulary

noun the practice of exchanging things with others for mutual benefit, especially privileges granted by one country or organization to another

• The principle of reciprocity is often used in international trade agreements.
• If you scratch my back, I'll scratch yours - it's all about reciprocity.
• We have to keep things fair and square, it's all about reciprocity.
• In relationships, reciprocity is like a give and take dance between two people.

noun a penny

verb saved, earned

• It is wise to remember that a penny saved is a penny earned when managing your finances.
• Hey, remember, a penny saved is a penny earned, so try not to spend too much on unnecessary things.
• Dude, always keep in mind that a penny saved is a penny earned, don't blow all your cash at once.
• In life, making small savings here and there can add up to significant earnings over time, as they say, a penny saved is a penny earned.