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Importance of Institutions Brief

1,552 views

Marginal Revolution University

Video Language:

  • English

Caption Language:

  • {{captionLanguage | language_name}} ({{captionLanguage}})

Accent:

  • English (US)

Speech Time:

95%
  • 4:37 / 4:50

Speech Rate:

  • 159 wpm - Fast

Category:

  • Education

Tags :

Intro:

Video Vocabulary

importance

/imˈpôrtns/

noun

state or fact of being of great significance or value.

economic

/ˌekəˈnämik/

adjective

relating to economics or economy.

private

/ˈprīvit/

adjective noun

Being away from others and quiet. lowest rank in army.

totalitarian

/tōˌtaləˈterēən/

adjective noun

relating to system of government that is centralized and dictatorial and requires complete subservience. One supporting total government control.

natural

/ˈnaCH(ə)rəl/

adjective adverb noun

Being as one would expect; being usual or normal. naturally. person having innate talent.

institution

/ˌinstəˈt(y)o͞oSH(ə)n/

noun

Tradition, custom or system accepted by a group.

centrally

/ˈsentrəlē/

adverb

Being in the middle equal distance from all sides.

property

/ˈpräpərdē/

noun

possessions collectively.

mechanisms

/ˈmekəˌnizəm/

noun other

system of parts in machine. Parts of a machine that performs a certain function.

provide

/prəˈvīd/

verb

To make available; to supply for use.

country

/ˈkəntrē/

noun

An area of land that is controlled by a government.

similar

/ˈsim(ə)lər/

adjective noun

having resemblance in appearance, character, or quantity. person or thing similar to another.

instead

/inˈsted/

adverb

as alternative or substitute.

perfect
adjective noun verb

So good it cannot be improved. perfect tense. To do something so well, it cannot be done better.

important

/imˈpôrtnt/

adjective

of great significance or value.

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