commerce, integrity, inflation, incentive, privatization: meanings and examples

Learn these 5 words from Business set 19. Each entry includes a definition, example sentence, pronunciation, and synonyms. Use the interactive cards above to practice them.

1. commerce · noun/ˈkɑmərs/

   buying and selling

   There was a time when this city was the center of business and commerce.

   Synonyms: business, trade

   Origin: mid 16th century (in commerce): from French, or from Latin commercium ‘trade, trading’, from com- ‘together’ + mercium (from merx, merc- ‘merchandise’)

2. integrity · noun/ɪnˈtɛɡrədi/

   the quality of following moral principles

   In order to gain and maintain the trust of your customers, you need to build a strong reputation for integrity.

   Synonyms: honesty, principle

   Origin: late Middle English (in integrity): from French intégrité or Latin integritas, from integer ‘intact’ (see integer). Compare with entirety, integral, and integrate

3. inflation · noun/ɪnˈfleɪʃən/

   an increase in prices

   A high rate of inflation has an adverse impact on an economy because it restricts people's ability to purchase goods and services.

   Synonyms: increase, boom

   Origin: Middle English (in the sense ‘the condition of being inflated with a gas’): from Latin inflatio(n-), from inflare ‘blow in to’ (see inflate). inflation dates from the mid 19th century

4. incentive · noun/ɪnˈsɛn(t)ɪv/

   something that motivates someone

   This gives the managers a powerful incentive to act in the interests of the owners by maximising shareholder value.

   Synonyms: encouragement, motive

   Origin: late Middle English: from Latin incentivum ‘something that sets the tune or incites’, from incantare ‘to chant or charm’

5. privatization · noun/ˌpraɪvədəˈzeɪʃən/

   changing something from state to private ownership

   The private sector desires increased privatization of government services.

   Synonyms: NONE