financial literacy the ability to make informed judgements and to take effective decisions regarding the use and management of money financial institution any organisation that takes deposits from those with surplus funds, and makes those funds available to borrowers fjord long, narrow inlet flanked by high cliffs and slopes flax plant cultivated for its seeds and fibres, which can be used to produce many things such as textiles floodplain an area of low-lying ground adjacent to a river, formed mainly of river sediments and subject to flooding fly-in fly-out (FIFO) a system in which workers fly to work, in places such as remote mines, and after a week or more fly back to their home elsewhere focus the point where the sudden movement of an earthquake begins Franks people of a group of a Germanic nation who ruled in western Europe from the sixth century CE geld a form of land tax geothermal energy energy derived from the heat in the Earth’s interior glacier a large body of ice, formed by an accumulation of snow, that flows downhill under the pressure of its own weight glaze a substance fused onto pottery to give it a glass-like appearance global citizenship being aware of the interconnectedness of the globalised world and acting in a way that promotes this notion globalisation the process of interacting with markets in other countries around the world, as part of an integrated global economic system grosswage a person’s wage or salary before it is taxed by the government groundwater water that seeps into soil and gaps in rocks Gulf Stream great warm current of water flowing from the Caribbean Sea all the way to northern Europe hard engineering a coastal management technique that involves using physical structures to control the effects of natural processes heathen one who is not of one’s own religion, and is therefore seen as being uncivilised hemp plant favoured for its tough fibre, useful in the making of rope hereditary passed from parent to child heresy opinion that challenged or differed from that of the Roman Catholic Church or the less tolerant Protestant churches heretic one who rejects the teachings of the Church heretic person rejecting Church teachings heritage everything that has come down to us from the past homicide the killing of one person by another person hostage a person kept for security hotspot an area on the Earth’s surface where the crust is quite thin and volcanic activity can sometimes occur, even though it is not at a plate margin household sector a term used by economists to refer to the total of all consumers in the economy humanist belief centred on human interests or values hypothesis a theory or possible explanation idolatry worship of idols
illumination hand-painted illustration in a medieval book immigrants people ‘moving into’ their destination country import goods or services purchased by local consumers from overseas businesses
income statement tells a business owner whether the business has made a profit over a period. It does so by looking at the amount of money earned by selling goods and services, and the business’s costs. income the money that a person receives. This can consist of money earnt from employment such as a wage, but it also includes income from other sources. indictable offence a serious criminal offence such as murder or armed robbery
GLOSSARY 665
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