vocabulary related to economy

Competition - The effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms. rekabet
Complements - Products that are used with one another such as hamburger and hamburger buns tamamlayıcı öğeler
Consumers - People whose wants are satisfied by consuming a good or a service.
Consumption - In macroeconomics, the total spending, by individuals or a nation, on consumer goods during a given period. Strictly speaking, consumption should apply only to those goods totally used, enjoyed, or "eaten up" within that period. In practice, consumption expenditures include all consumer goods bought, many of which last well beyond the period in question --e.g., furniture, clothing, and automobiles.
Consumer spending - The purchase of consumer goods and services.
Corporation - A legal entity owned by stockholders whose liability is limited to the value of their stock.
Costs -
Costs of production - All resources used in producing goods and services, for which owners receive payments.   üretim harcaması
Craftsperson - A worker who completes all steps in the production of a good or service.
Credit - (1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
Criteria - Standards or measures of value that people use to evaluate what is most important.

Decision making - Choosing from alternatives the one with the greatest benefit net of costs. 
Demand - A schedule of how much consumers are willing and able to buy at all possible prices during some time period. talep
Demand decrease - A decrease in the quantity demanded at every price; a shift to the left of the demand curve.   talepte azalma
Demand increase - An increase in the quantity demanded at every price; a shift to the right of the demand curve. 

Division of labor - The process whereby workers perform only a single or a very few steps of a major production task (as when working on an assembly line.)  iş bölümü-dağılımı

Earn - Receive payment (income) for productive efforts.   kazanç
Economic growth - An increase in the total output of a nation over time. Economic growth is usually measured as the annual rate of increase in a nation's real GDP.   ekonomik büyüme

Entrepreneur - One who organizes, manages, and assumes the risks of a business or enterprise.  girişimci

Human capital - The health, strength, education, training, and skills which people bring to their jobs.
Human resources - The quantity and quality of human effort directed toward producing goods and services (also called labor).

Incentives - Factors that motivate and influence the behavior of households and businesses. Prices, profits, and losses act as incentives for participants to take action in a market economy.
Imports - Goods or services bought from sellers in another nation. ithalat
Income - The payments made for the use of borrowed or loaned money.
Increase in productivity - When the same amount of an output can be produced with fewer inputs; more output can be produced with the same amount of inputs; or a combination of the two.  üretimde artış

Inflation - A sustained and continuous increase in the general price level. enflasyon
Interest rates - The price paid for borrowing money for a period of time, usually expressed as a percentage of the principal per year. faiz oranları

Investment - The purchase of a security, such as a stock or bond.  yatırım

Labor union - A group of employees who join together to improve their terms of employment. işçi birlikleri- sendika gibi

Monetary policy - The objectives of the central bank in exercising its control over money, interest rates, and credit conditions. The instruments of monetary policy are primarily open-market operations, reserve requirements, and the discount rate.   para politikaları

Monetary: parasal

National debt - The net accumulation of federal budget deficits. milli borç
National income - The amount of aggregate income earned by suppliers of resources employed to produce GNP; net national product plus government subsidies minus indirect business taxes. milli gelir 
Natural resources - "Gifts of nature" that are used to produce goods and services. They include land, trees, fish, petroleum and mineral deposits, the fertility of soil, climatic conditions for growing crops, and so on.  doğal kaynaklar
Producers - People who use resources to make goods and services (also called workers).
Production - The making of goods available for use; total output especially of a commodity or industry.
Productive resources - All natural resources (land), human resources (labor), and human-made resources (capital) used in the production of goods and services.
Productivity - The ratio of output (goods and services) produced per unit of input (productive resources) over some period of time.
Profit - The difference between total revenues and the full costs involved in producing or selling a good or service; it is a return for risk taking.  kar

Resources - All natural, human, and human-made aids to production of goods and services (also called productive resources).
Revenue - Payments received by businesses from selling goods and services.

 

 

Words and Quotes related to education

The foundation of every state is the education of its youth.

Next in importance to freedom and justice is popular education, without which neither freedom nor justice can be permanently maintained.

General words for teaching

teaching

noun

the job of a teacher

education

noun

the activity of educating people in schools, colleges, and universities, and all the policies and arrangements concerning this

training

noun

the process of training people or of being trained for a profession or activity

instruction

noun

the teaching of a particular subject or skill

tuition

noun

the work that a teacher does when they teach a particular subject, especially to one person or to a small group

pedagogy

noun

the methods and principles of teaching

initiation

noun

an introduction to a new skill, subject, or activity

orientation

noun

information or training that you are given before you start a new job or activity

exposure

noun

the act of providing someone with the opportunity to experience new ideas, activities etc

education

noun

the activity of teaching about a particular subject

writing a cause paragraph

Topic: WHY PEOPLE LEARN A FOREIGN LANGUAGE

Text Analysis

1.Expands your social network –

potential contacts will increase by the thousands and millions

become able to communicate with a whole new population of people.

Meet new friends

 2.Gives you sense of accomplishment (=achievement/success)

we gain a feeling of self-confidence and satisfaction - overcome /deal with challenges

opens you up to a world of opportunities abroad

banks, technology companies, international trading/commercial firms/companies) trade/commerce)

give well-paying jobs

3.Expands your consciousness/ widen-broaden your horizons

seeing the world a little bit differently,  you have two sets of lenses through which to view the same reality

awareness / another way of thinking

------>

Sample Topic Sentences from the SC3 Class

There are several reasons for mastering a foreign language.

People have a lot of reasons for attaining a high level of proficiency in a foreign language.

People want to become fluent/proficient in a foreign language because of several factors.

A SAMPLE CAUSE PARAGRAPH                                                 October 14, 2010     

Learning A Foreign Language

People want to become fluent in a foreign language because of several factors. One reason for learning to communicate in foreign language is that people can expand their social networks. For example, people who know to speak English can contact with people all over/around the world and can increase the number of their friends. Another reason is that mastering a foreign language opens you up to a world of opportunities. Big companies like Sabancı, Koç and international trading firms prefer to work with employees who can interact with foreign customers in a foreign language effectively. Also, such employees get a high income. Finally, by studying a foreign language, individuals can equip themselves with two sets of lenses which help language users to view the same reality through different cultures. For instance, a person who knows Spanish can also think like a Spanish person by being aware of their culture and traditions. In short, knowing a language brings along varied advantages and opportunities. As our ancestors said, one language is one person.

ITU DDP

SC3 Class Work

 

the Theory of Everything

The Theory of Everything

By Michio Kaku

Time Magazine chose him as Man of the Century. Albert Einstein had three great theories. His first theory of Special Relativity (1905) gave us E = mc², which led to the atomic bomb and unlocked the secret of the stars. His second great theory was General Relativity (1915), which gave us space curves, the Big Bang, and black holes. But many don't realize that his greatest theory was never finished: "a theory of everything". Einstein's crowning achievement was to have been the unified field theory, an attempt to "read the mind of God".

But on the third try, Einstein failed. He spent the last 30 years of his life chasing after an equation that would explain all physical phenomena. Everything from Creation to atoms and molecules, perhaps even DNA, people, and love was to be explained by this equation. If discovered, it was to have been the ultimate achievement of 2,000 years of investigation into the nature of space and matter, ever since the Greeks asked what was the smallest particle and the smallest unit of space. Although there are many unresolved questions, today the leading and, in fact, only candidate for the Theory of Everything is superstring theory, defined in 10 dimensional hyperspace. Superstring theory, in turn may one day answer some of the deepest questions of the universe, such as: What happened before the big bang? Is it possible to build a time machine? Can we punch a hole in space? Not only has the power of this theory startled the world of mathematics and shaken the world of physics, it is also the craziest theory ever proposed.

Four fundamental forces

Today, we realize that the entire universe is governed by four fundamental forces:

• The gravitational force, which keeps us from flying into outer space, and prevents our sun (a gigantic hydrogen bomb) from exploding outward.
• The electromagnetic force, which light up our cities and energizes our lasers and our computers.

• The strong and weak nuclear forces, which lights up the stars and galaxies.

Gravity can be described by Einstein's general relativity theory. Matter warps the space surround it, thereby creating the "force" of gravity. Imagine an ant walking on a crumpled sheet of paper. The ant would say that there was a mysterious "force" which pulled it left and right. But we know that there is no "force" pulling the ant; there is only the crumpled sheet of paper pushing the ant left and right. Gravity does not pull: empty space  pushes.

But after decades physicists have unified these three quantum forces into what is called the Standard Model. Remarkably, all known physical phenomenon can, in principle, be described by these two great theories, relativity and the quantum theory. But why should nature, at the most fundamental level, create two totally dissimilar theories? Sadly, every attempt to merge these two theories has failed. Some of the greatest minds of the century have tackled this problem, only to be unsuccessful.

Superstring theory combines relativity and quantum in an elegant, intuitive way. First, it describes a great number  of quantum particles of nature because each particle represents a "note" on a vibrating string. Think of a violin string. No one says that A or B is more fundamental than C. What is fundamental is the string itself.

Superstring theory says that, if we had a supermicroscope and could peer at an electron, we would see a string vibrating in a certain mode. The string is extremely small (10 to the minus 33 centimeters!) so that the electron looks like a point particle to us. If we shake the string, so it vibrates in a different mode, then the electron can turn into something else, such as a quark, the fundamental constitute of protons and neutrons. Shake it again, and the string could vibrate in the mode which describes photons (the quanta of light). Shake it again and it turns into a graviton (the quanta of gravity).

The superstring theory can also explain gravity. When the superstring moves in space and time, splitting and rejoining into other strings, it forces the space-time surrounding it to curl up, just as Einstein's equations predict. In other words, even if Einstein never dreamed up general relativity, we might have discovered it through superstring theory.

Superstring theory, of course, has its detractors. Many  point out it predicts the universe is defined in 10 dimensional hyperspace, which sounds more like science fiction than real physics. It's indisputable that the universe exists in four dimensions (3 spatial dimensions and one time dimension). Every object in the universe, from the tip of your nose to the farthest star, can be located by giving just 3 co-ordinates (length, width, and height). If we also give the time, then we can describe every event in the universe with just four numbers. For example in New York, we might say to a friend, "meet me at 42nd street and 5th avenue, on the 25th floor, at 12:00." Thus, four numbers (42,5,25,12) completely specifies this event in space-time.

Superstring theory, however, predicts the universe should exist in 10 dimensions, not four. To explain where the other six dimensions went, physicists believe that the universe originally existed in 10 dimensions. However, at the instant of the Big Bang, for reasons we don't understand, six of the 10 dimensions "curled up" and collapsed, while the other four dimensions expanded rapidly. In some sense, our universe expanded at the expense of a twin universe which collapsed down to microscopic size.

1.    Which of the given words is closest to crowning in the first paragraph?

a.         highest      b. weakest       c. ancient        d. accessible

2.    Which of the given words is closest to startle in the second  paragraph

a.    upset      b. change     c. surprise      d. create

3.    Which of the sentences given below is true according to the text?

a. Of all his great achievements Einstein’s superstring theory was the best to explain the origin of the universe.

b. Greeks tried to answer the questions about the origin of the universe.

c. Einstein tried to find a formula that would explain all the facts in physics.

d. Einstein was crazy to propose the Theory of Everything.

4.    Which of these sentences is NOT true according to the text?

a.      All the theories which meant to solve the mysteries of the universe were unsuccessful to explain the combination of relativity and quantum theory.

b.      If shaken a string turns into something different such as quarks and photons.

c.       If Einstein had not introduced the gravity theory, it still would be possible that we would discover it thanks to string theory.

d.      Everything in the universe can be specified by the co-ordinates and time.

5.    What does it refer in the second paragraph?

a.      Reading the mind of God.

b.      Investigation into nature of space and matter

c.       An equation that would explain all physical phenomena

d.      Creation, atoms, molecules, Dna and love

Answers

1. a   2.c   3. c   4. a   5. c