Subtitles & vocabulary
Milton Friedman on The Magic of Prices [Original Speech]
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林宜悉 posted on 2025/08/28Ever wondered how a simple pencil comes to be? This fascinating original speech by Milton Friedman breaks down the incredible 'magic of prices' and the division of labor that makes global supply chains possible! You'll pick up key economics concepts with super simple explanations, perfect for understanding how the world works.
Video vocabulary
literally
US /ˈlɪtərəli/
・
UK
- Adverb
- In a literal manner or sense; exactly as stated.
- Used for emphasis to describe something that is actually true, often to highlight surprise or intensity.
B1
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US /ɪˈsɛnʃəl/
・
UK /ɪ'senʃl/
- Adjective
- Extremely or most important and necessary
- Fundamental; basic.
- Noun
- A concentrated hydrophobic liquid containing volatile aroma compounds from plants.
B1TOEIC
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US /ˈpræktɪs/
・
UK /'præktɪs/
- Noun
- The office and place for legal or medical work
- Doing something many times to become better at it
- Verb (Transitive/Intransitive)
- To work as a doctor or lawyer
- To live according to the teachings of a religion
A2TOEIC
More native
US /ˈnetɪv/
・
UK /ˈneɪtɪv/
- Noun (Countable/Uncountable)
- Someone from or born in a specific country
- Original inhabitant, e.g. before others
- Adjective
- Caused by natural ability; innate
A2
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