One video, every day, for 30 days, to help  you master 105 intermediate English words.  

We're taking words from the academic word list  so these are words you'll need to know if you're  

preparing for the IELTS or TOEFL exam. But  also, if you read or watch news in English,  

or have conversations with native speakers. In  other words, these are useful words. So grab  

your friends, have them join the challenge, and  let's do this. As always, if you like this video,  

or you learn something, new please like and  subscribe with notifications, it really helps.

There's a download to go with this video. A  list of all the words and definitions, and  

sample sentences, as well as quizzes to make sure  you're really getting and remembering these words.  

You can get that download by following  the link in the video description.  

Today, we're learning four new words: Economy, Finance, Income, and Labor. And  

we're looking at the different ways these words  are used in various situations. For each word,  

you'll get the definition, we'll go over the  pronunciation, you'll get to see the pronunciation  

up close and in slow motion, and we'll  have five examples from real life English.

First the word economy.  

It's a four syllable word  with second syllable stress.  

Economy. Economy. Economy. A noun, the wealth and  resources of a country or region, especially in  

terms of the production and consumption of goods  and services. Government rules and regulations can  

impact a country's economy. As an adjective, it  means costing less, saving money. I don't need a  

big SUV. I'm going to rent an economy car. Let's  look at the pronunciation one more time.

And now we'll go to Youglish for five  examples of this word in real situations.

And that would make our economy more competitive  

globally. And that would create a  a stronger economy here at home.

A stronger economy here at home.  

That means the economy of our nation,  the wealth and resources of our nation.

And that would make our economy more competitive  

globally. And that would create a  a stronger economy here at home.

Here's another example.

That keeps too many people in too many  countries from joining our global economy.

Global economy. That is the wealth and  resources of the whole world, of countries  

interacting with other countries in terms of the  production or consumption of goods and services.

That keeps too many people in too many  countries from joining our global economy.

Here's another example.

So do you think it would  be good for the economy to  

double or triple the number of  people who could come here legally?

Good for the economy. Would have a  positive impact on the wealth of the nation  

and the people of the nation.

So do you think it would be good for the economy  

to double or triple the number of  people who could come here legally?

Another example.

But then up front, you've got  pretty standard economy car stuff.

Economy car. That is the opposite of  luxury. Created to be less expensive.

But then up front, you've got  pretty standard economy car stuff.

Here's another example.

We then connect with local  drivers in the sharing economy.

The sharing economy. This refers to individuals  renting or selling from another individual rather  

than a business. For example, if you rent  a room in someone's house through Airbnb,  

that's the sharing economy, rather  than booking a room at a hotel.

We then connect with local  drivers in the sharing economy.

You might also see the term gig economy, which  has to do with individuals working as contractors  

rather than employees, often on a part-time basis.  So let's say you have someone who works full-time  

as an employee with benefits, that person has lost  her job and can't find another one. So while she's  

looking for another position, she enters the gig  economy. Sometimes, she drives her car for Uber.  

Sometimes she picks up jobs on  Doordash. She's part of the gig economy.

We then connect with local  drivers in the sharing economy.

The next word is finance. It has two  pronunciations: finance and finance.

Both pronunciations work for both the noun and  the verb. As a noun, it means the management  

of revenues, the ways in which money is used  and handled. She's taking a course on personal  

finance. As a verb, it means to give or loan  money to something or someone. His parents  

financed his college education. Let's look at  this word up close and in slow motion again.

And now we'll go to Youglish for five  examples of this word in real situations.

We can finance that America's ideas, instead  of ideas from New York and San Francisco.

Finance that America's ideas. Lend  money to businesses for those ideas.

We can finance that America's ideas, instead  of ideas from New York and San Francisco.

Here's another example.

So they, they basically have this bunch  of finance guys who sit in a room.

Finance guys. People who are experts in finance,  

in managing the revenue of  an organization or business. 

So they, they basically have this bunch  of finance guys who sit in a room.

Here's another example.

If you're the ideas person, you might  need a really grounded finance person.

Finance person. Again, a person who's an  expert in finance. In this case, in the  

money side of running a business, rather than the  creative idea generating side of the business.

If you're the ideas person, you might  need a really grounded finance person.

Another example.

It makes the finance team crazy.

So here, she used the other pronunciation.  Finance. So far, everyone has said finance  

and that's what I say, but here she  said: finance. The finance team. The  

group of people focused on the financials and the  financial health of the business or organization.

It makes the finance team crazy.

Here's our last example.

Some people go back and get jobs in finance  and, and then they want to make a lot of money.

Jobs in finance. In the field of finance,  in understanding and managing revenues,  

money in, money out.

Some people go back and get jobs in finance  and, and then they want to make a lot of money.

Now the word income.

Two syllable word with first syllable stress.  It's a noun and it means money that is earned  

from work, investments, business, and so  on. Farming was their main source of income.  

Even on two incomes, we're having a  hard time keeping up with our bills.  

Let's see this word up close  and in slow motion again.

And now, we'll go to Youglish for five  examples of this word in real situations.

He went down this path, when many years ago,  

he found himself struggling to support his  family of eight with no job and no income.

No job and no income. Earning no  money because of not having a job.

He went down this path, when many years ago,  

he found himself struggling to support his  family of eight with no job and no income.

Here's another example.

Usually the ones against it  represented some of the southern states  

because that was their source of income.

Their source of income. How they made money.

Usually the ones against it  represented some of the southern states  

because that was their source of income.

Here's another example.

So you're dealing with low to  moderate income folks all the time.

Their income, the amount of money they make, is  low to moderate. They're not high income earners.

So you're dealing with low to  moderate income folks all the time.

Another example.

Government policies and investments  though have to prioritize  

growth in the sectors that will  increase incomes of the poor.

Increase the incomes of the poor. The amount  of money poor people are making at their jobs.

Government policies and investments  though have to prioritize  

growth in the sectors that will  increase incomes of the poor.

Here's our last example.

So we've seen wages and incomes sort of flatline.

Wages and incomes. Wages here is what you  make from work, and income is more broad.  

It can include things like your wages, but  also money you might make from investments.

So we've seen wages and incomes sort of flatline.

And finally, today we have the word labor.

A two-syllable word with first syllable stress.  Labor. It's a noun, it means physical, or  

mental effort. The cost of repairing  the car includes parts and labor.  

So parts, this would be the things you need  to have to replace in the car, within labor,  

the amount of time, the effort, the work of  the person who had to put the new parts in.

Also a verb it means to do work. Both  sides continue to labor to find a solution.  

Let's look at this word up  close and in slow motion again.

And now we'll go to Youglish for five  examples of this word in real situations.

There's something we're willing  to pay for and labor for.

If you labor for something, that means you  work on it, you put an effort to get something.

There's something we're willing  to pay for and labor for.

Here's another example.  

Farmers don't have the labor they need or  the machinery to fully cultivate this land.

Don't have the labor they  need. The people to do the work  

to help with the tasks of running the farm.

Farmers don't have the labor they need or  the machinery to fully cultivate this land.

Another example.

Many of the great inventions of the last 200  years were designed to replace human labor.

Replace human labor. That means robots  doing the work that people once had to do.

Many of the great inventions of the last 200  years were designed to replace human labor.

Here's another example.

Many young people and people of all ages  have to try to enter the labor markets.

Try to enter the labor markets.  That means get a job, start working.

Many young people and people of all ages  have to try to enter the labor markets.

Seeing their real-life examples can really  help you understand how to use these words,  

can't it? I have a challenge for you now.  Make up a sentence with one of these words,  

and post it to social media, tag me, and use  the hashtag #rachelsenglish30daychallenge

Don't be shy, you can do this. Our next video  comes out tomorrow at 10AM Philadelphia time,  

come back to learn four more vocabulary words.  In the meantime, keep your studies going with  

this video, and check out my online  courses at rachelsenglishacademy.com  

You'll become a more confident English  speaker. And please do remember to subscribe.  

I love being your English teacher. That's it  and thanks so much for using Rachel's English.