Social Sience, GLOSSARY UNIT 4

FREE MOVEMENT: the unrestricted movement of goods, services, people and capital in a common market.
COMMON MARKET: a market based on common policies and the free movement of goods, services, people and capital.
MONETARY UNION: the sharing of the same currency between two or more states.
COHESION: the act of uniting or staying together.
TREATY: a formal agreement between two or more states related to international relations. HETEROGENEITY: a thing that consists of dissimilar elements or parts.
HOMOGENEOUS: composed of similar or identical parts or elements.
OUTSOURCING: a part of a company’s work is sent to another company, sometimes in a different country, because it is a cheaper or more efficient option.
FRAGMENTATION: when production processes occur in different phases, in different places. DEVELOPMENT: the act or progress of growing or making progress.
BUDGET: a sum of money to be used for a specific purpose by a government.
CITIZENSHIP: the condition or status of a citizen, with its rights and duties.
DUTY: a task or action that a person is bound to perform for moral or legal reasons.
FUNDS: the financial resources use by governments or political institutions for a specific purpose. INVESTMENT: the act of using something to achieve a goal.
SUBSIDY: a type of financing offered by a government.
SCEPTICAL: not convinced that something is true.
SURPLUS: a quantity or amount in excess of what is required.
SEAFARING: travelling by sea.
OUTSKIRTS: outlying or bordering areas, districts, etc, as of a city.
PROFITABLE: affording gain, benefit, or profit.
HIERARCHY: a system of persons or things arranged in a graded order.
GDP: gross domestic product.
CAP: Common Agricultural Policy.
CFP: Common Fisheries Policy.