DON’T Learn This English Word Alone! Meet its Family and ECONOMIZE onTime

12,105 views ・ 2017-11-03

Simple English Videos


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Come on over here everyone.
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Come on up front.
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Get your words here.
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Six words for the price of one.
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It's a bargain!
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Here’s a family words that you’ll often hear in the news.
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They’re useful if you need English for work or business, or if you’re taking an exam.
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They all come from the same root and they all mean something to do with money.
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Let’s start with economy.
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This is about a system where money and goods are produced by a country.
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All countries want to grow their economies.
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Hi everybody.
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Our top priority as a nation must be growing the economy.
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Creating good jobs and rebuilding opportunity for the middle class.
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Now in a lot of languages people talk about the economy of company too, but English is
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different.
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When we’re talking about how much money a company has and how its managed, we usually
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say finances instead.
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Jay.
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Yes?
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We need to talk about the company’s finances.
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How are we doing?
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Not good.
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Sales are down.
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Well the economy’s been bad for everyone.
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So we generally talk about the economy of a country and the finances of a company.
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Remember that.
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OK, next up we have a verb.
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We’re spending too much money.
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We need to economize.
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Impossible!
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Do you really need to fly first class all the time?
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Absolutely!
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I love the champagne they serve.
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Well, we’ve got to cut down somehow.
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So economizing means cutting down and trying to use less money than normal.
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That’s a new meaning.
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It’s about trying to save money.
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Great.
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Let’s look at two adjectives now.
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Economic and economical.
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They mean different things.
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We can say economic or economic and we can say economical or economical, but they mean
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different things.
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And now financial news.
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Despite difficult economic conditions in Europe, the global economy continues to grow.
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Economic means relating to the economy - production, trade, managing money.
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Economical is different.
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You know we should buy bigger bags of pistachios.
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Mmm.
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It would be more economical.
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Economical is about using money carefully, so there’s no waste.
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So we’ve got these two different meanings again – money and saving money.
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OK, just two more words.
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First one.
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What’s an economist?
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And now for $100, can you name the economist who wrote 'The Wealth of Nations'?
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Ooo.
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I can.
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I can.
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It was Adam Smith.
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You’re right for 100 dollars.
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Congratulations.
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An economist is a person who studies economies.
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And the subject they study is… economics.
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The study of how money and goods are produced.
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Economist.
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Economics.
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Notice the pronunciation.
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The stress moved.
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Let’s check all the words for that.
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Say them with me.
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eCONomy eCONomize
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ecoNOMic ecoNOMical
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eCONomist ecoNOMics
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Now there are other words and meanings you can add to this family but you’ve got the
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basics here.
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Just remember there are two different ideas going on – money and saving money.
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So that’s it for this week everyone.
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Don’t forget to subscribe to our channel, if you haven’t already and see you next
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Friday!
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Bye!
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