UNIT 4
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.
Outsourcing: part of a company’s work is sent to another company,
sometimes in a different country, because it’s a cheaper or more efficient
option.
Fragmentation: when production processes occur in different phases,
in different places.
Development: the act or process of growing or making progress.
Budget: a sum of money to be used for a specific purpose by a
government.
Funds: the financial resources used 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.
UNIT 5
Arbitrator:
a person chosen to decide a dispute or settle differences. In a constitutional
monarchy, the king is the arbitrator between governmental institutions.
Autonomous
community: one of 17 institutions that form part of the Spanish territory with
its own development government.
Constitutional
monarchy: a system of government in which the king is the head of the state but
the parliament chooses the government. The government manages the politics of
the state.
Councilors:
government officials that, together with the mayor, make up the town council.
Crown
(the): the part of a constitutional monarchy represented by the king.
Decentralised
Government: a system of government in which decision-making is develolved to a
local level and is therefore closer to the citizens.
Life
expectancy: the number of years a person or population is expected to live.
Ministers:
government officials that, together with the president, make up the Spanish
cabinet.
Municipality:
the most basic administrative body in the Spanish territory. It’s made up of
one or several settlements.
Post-industrial
society: a society in which the economy has undergone a shift from the
production of goods to the provision services.
Province:
an administrative body made up of several municipalities in the Spanish
territory.
Self-government:
a system of government in which a community or region has authority to govern
itself without the intervention of any other authority.
Statute
of Autonomy: a law describing the institutions, laws and responsibilities for
each of the autonomous communities in the Spanish territory.
Subsidiarity:
the principle of devolving decisions to the lowest practical level so that
services are closer to citizens.
Town
Council: the organization that governs each municipality in Spain. It’s made up
of the mayor and councilors.
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