What are we doing here on a Wednesday? Why, it's day two of your 30 day vocabulary challenge.
One video, every day, for 30 days, to help you master 105 intermediate English words.
We're taking words from the academic word list so these are words you'll need to know if you're
preparing for the IELTS or TOEFL exam. But also, if you read or watch news in English,
or have conversations with native speakers. In other words, these are useful words. So grab
your friends, have them join the challenge, and let's do this. As always, if you like this video,
or you learn something, new please like and subscribe with notifications, it really helps.
There's a download to go with this video. A list of all the words and definitions, and
sample sentences, as well as quizzes to make sure you're really getting and remembering these words.
You can get that download by following the link in the video description.
Today, we're learning four new words: Economy, Finance, Income, and Labor. And
we're looking at the different ways these words are used in various situations. For each word,
you'll get the definition, we'll go over the pronunciation, you'll get to see the pronunciation
up close and in slow motion, and we'll have five examples from real life English.
First the word economy.
It's a four syllable word with second syllable stress.
Economy. Economy. Economy. A noun, the wealth and resources of a country or region, especially in
terms of the production and consumption of goods and services. Government rules and regulations can
impact a country's economy. As an adjective, it means costing less, saving money. I don't need a
big SUV. I'm going to rent an economy car. Let's look at the pronunciation one more time.
And now we'll go to Youglish for five examples of this word in real situations.
And that would make our economy more competitive
globally. And that would create a a stronger economy here at home.
A stronger economy here at home.
That means the economy of our nation, the wealth and resources of our nation.
And that would make our economy more competitive
globally. And that would create a a stronger economy here at home.
Here's another example.
That keeps too many people in too many countries from joining our global economy.
Global economy. That is the wealth and resources of the whole world, of countries
interacting with other countries in terms of the production or consumption of goods and services.
That keeps too many people in too many countries from joining our global economy.
Here's another example.
So do you think it would be good for the economy to
double or triple the number of people who could come here legally?
Good for the economy. Would have a positive impact on the wealth of the nation
and the people of the nation.
So do you think it would be good for the economy
to double or triple the number of people who could come here legally?
Another example.
But then up front, you've got pretty standard economy car stuff.
Economy car. That is the opposite of luxury. Created to be less expensive.
But then up front, you've got pretty standard economy car stuff.
Here's another example.
We then connect with local drivers in the sharing economy.
The sharing economy. This refers to individuals renting or selling from another individual rather
than a business. For example, if you rent a room in someone's house through Airbnb,
that's the sharing economy, rather than booking a room at a hotel.
We then connect with local drivers in the sharing economy.
You might also see the term gig economy, which has to do with individuals working as contractors
rather than employees, often on a part-time basis. So let's say you have someone who works full-time
as an employee with benefits, that person has lost her job and can't find another one. So while she's
looking for another position, she enters the gig economy. Sometimes, she drives her car for Uber.
Sometimes she picks up jobs on Doordash. She's part of the gig economy.
We then connect with local drivers in the sharing economy.
The next word is finance. It has two pronunciations: finance and finance.
Both pronunciations work for both the noun and the verb. As a noun, it means the management
of revenues, the ways in which money is used and handled. She's taking a course on personal
finance. As a verb, it means to give or loan money to something or someone. His parents
financed his college education. Let's look at this word up close and in slow motion again.
And now we'll go to Youglish for five examples of this word in real situations.
We can finance that America's ideas, instead of ideas from New York and San Francisco.
Finance that America's ideas. Lend money to businesses for those ideas.
We can finance that America's ideas, instead of ideas from New York and San Francisco.
Here's another example.
So they, they basically have this bunch of finance guys who sit in a room.
Finance guys. People who are experts in finance,
in managing the revenue of an organization or business.
So they, they basically have this bunch of finance guys who sit in a room.
Here's another example.
If you're the ideas person, you might need a really grounded finance person.
Finance person. Again, a person who's an expert in finance. In this case, in the
money side of running a business, rather than the creative idea generating side of the business.
If you're the ideas person, you might need a really grounded finance person.
Another example.
It makes the finance team crazy.
So here, she used the other pronunciation. Finance. So far, everyone has said finance
and that's what I say, but here she said: finance. The finance team. The
group of people focused on the financials and the financial health of the business or organization.
It makes the finance team crazy.
Here's our last example.
Some people go back and get jobs in finance and, and then they want to make a lot of money.
Jobs in finance. In the field of finance, in understanding and managing revenues,
money in, money out.
Some people go back and get jobs in finance and, and then they want to make a lot of money.
Now the word income.
Two syllable word with first syllable stress. It's a noun and it means money that is earned
from work, investments, business, and so on. Farming was their main source of income.
Even on two incomes, we're having a hard time keeping up with our bills.
Let's see this word up close and in slow motion again.
And now, we'll go to Youglish for five examples of this word in real situations.
He went down this path, when many years ago,
he found himself struggling to support his family of eight with no job and no income.
No job and no income. Earning no money because of not having a job.
He went down this path, when many years ago,
he found himself struggling to support his family of eight with no job and no income.
Here's another example.
Usually the ones against it represented some of the southern states
because that was their source of income.
Their source of income. How they made money.
Usually the ones against it represented some of the southern states
because that was their source of income.
Here's another example.
So you're dealing with low to moderate income folks all the time.
Their income, the amount of money they make, is low to moderate. They're not high income earners.
So you're dealing with low to moderate income folks all the time.
Another example.
Government policies and investments though have to prioritize
growth in the sectors that will increase incomes of the poor.
Increase the incomes of the poor. The amount of money poor people are making at their jobs.
Government policies and investments though have to prioritize
growth in the sectors that will increase incomes of the poor.
Here's our last example.
So we've seen wages and incomes sort of flatline.
Wages and incomes. Wages here is what you make from work, and income is more broad.
It can include things like your wages, but also money you might make from investments.
So we've seen wages and incomes sort of flatline.
And finally, today we have the word labor.
A two-syllable word with first syllable stress. Labor. It's a noun, it means physical, or
mental effort. The cost of repairing the car includes parts and labor.
So parts, this would be the things you need to have to replace in the car, within labor,
the amount of time, the effort, the work of the person who had to put the new parts in.
Also a verb it means to do work. Both sides continue to labor to find a solution.
Let's look at this word up close and in slow motion again.
And now we'll go to Youglish for five examples of this word in real situations.
There's something we're willing to pay for and labor for.
If you labor for something, that means you work on it, you put an effort to get something.
There's something we're willing to pay for and labor for.
Here's another example.
Farmers don't have the labor they need or the machinery to fully cultivate this land.
Don't have the labor they need. The people to do the work
to help with the tasks of running the farm.
Farmers don't have the labor they need or the machinery to fully cultivate this land.
Another example.
Many of the great inventions of the last 200 years were designed to replace human labor.
Replace human labor. That means robots doing the work that people once had to do.
Many of the great inventions of the last 200 years were designed to replace human labor.
Here's another example.
Many young people and people of all ages have to try to enter the labor markets.
Try to enter the labor markets. That means get a job, start working.
Many young people and people of all ages have to try to enter the labor markets.
Seeing their real-life examples can really help you understand how to use these words,
can't it? I have a challenge for you now. Make up a sentence with one of these words,
and post it to social media, tag me, and use the hashtag #rachelsenglish30daychallenge
Don't be shy, you can do this. Our next video comes out tomorrow at 10AM Philadelphia time,
come back to learn four more vocabulary words. In the meantime, keep your studies going with
this video, and check out my online courses at rachelsenglishacademy.com
You'll become a more confident English speaker. And please do remember to subscribe.
I love being your English teacher. That's it and thanks so much for using Rachel's English.