Vocabulary Lesson 9: Wealth and Poverty Words related to wealth or the lack of it are commonly used in the world of business and the media. The details of economic events and financial transactions are important for everyone to comprehend. The words in this lesson will help you understand wealth-related issues.
Austerity Severe and rigid restrictions, especially those brought about by difficult economic times The quality of lacking luxury or ornamentation The quality of being severe or stern in appearance or manner
Depreciate To decrease or cause to decrease in value or price
Equity Net value; the value of a business or property minus debt owed Property value - Mortgage owed = Equity (net value) http://www.investopedia.com/video/play/what-is-equity/ Fairness; justice
Frugal Economical; thrifty; careful or strict in avoiding unnecessary spending
Indigent Extremely poor; impoverished; lacking basic necessities Bread line during The Great Depression
Munificent Generous; liberal in giving https://www.youtube.com/watch?v=rFrvIK3BzD8
Pecuniary Having to do with money (finances)
Recession A general decline in business activity The act of withdrawing or going back
Remunerate To pay for goods provided, services rendered, or losses incurred; to compensate for Breaking Bad: “Better call Saul” https://www.youtube.com/watch?v=3F2oO98C6Nw&list=PLw2w9PIWLB8bQBW8rZiyDQ_dQkQpAdlb0&index=4
Solvent Capable of meeting financial obligations; able to pay debts