Chapter 1: general Context

Question 1

Free market

Answer 1

system in with the price of goods and services is self- regulated.
Supply and demand without government interference

Question 2

Brexit

Answer 2

“British exit”
The departure of Britain from the EU

Question 3

Nostalgia

Answer 3

a sentimental longing or wistful affection for a period in the past

Question 4

Neoliberal

Answer 4

Form of liberalism that supports economic freedom and the free market

Question 5

Privatisation

Answer 5

The transfer of ownership, property, or business from the government to the private sector.
government ceases to be the owner of the entity or business.

Question 6

Austerity

Answer 6

“soberheidsbeleid”
a set of political-economic policies aimed to reduce government budget deficits through spending cuts, tax increases or a combination of both

Question 7

Pragmatism

Answer 7

philosophy originated around 1870 (USA)
Thinking or dealing with problems in a practical way, rather than by using theory or abstract principles.

Question 8

Deficit

Answer 8

An excess of expenditure or liabilities over income or assets in a given period.
deficit is an economic term

Question 9

Conservatism

Answer 9

Political and social philosophy, promoting traditional social institutions in the context of culture and civilisation
Opposites are radical and socialist

Question 10

Margaret Tacher

Answer 10

Prime minister of the UK (1979-1990)
Leader of the conservative party
The Iron Lady

Question 11

Stop and search

Answer 11

Police power to stop and search a person or vehicle

Question 12

Insular

Answer 12

Ignorant or uninterested in cultures, ideas, or people outside one’s own experience

Question 13

Enterprise culture

Answer 13

A capitalist society in which taking on financial risk in the hope if profit is encouraged