F2F Class Notes 31st of October (Raph)

Vocabulary

Ideology (n): 1- a system of ideas and ideals, especially one which forms the basis of economic or political theory and policy.
E.g.: He had a strong belief in the Communist ideology.

Capitalism (n): 1- a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government.
E.g.: He firmly believe in the principles of Capitalism.

Communism (n): 1- a way of organizing a society in which the government owns the things that are used to make and transport products (such as land, oil, factories, ships, etc.) and there is no privately owned property.
E.g.: He wanted to spread the ideas of Communism to other parts of the world.

Per capita (adv/adj): 1- for each person; in relation to people taken individually.
E.g.: China’s GDP per capita was at 6,807.43USD in 2013.

To go under the knife (v): 1- to have surgery.
E.g.: He didn’t like his looks, but was too afraid to go under the knife.