Richard Branson Speaks to Vietnamese Businesses

free enterprise – n. a system in which private businesses are able to compete with each other with little control by the government

philanthropic – adj. related to giving money and time to help make life better for other people

per capita income – n. the amount of money in a country divided by the population

capitalism – n. a way of organizing an economy so that the things that are used to make and transport products  are owned by individual people and companies rather than by the government

free market – adj. an economic market or system in which prices are based on competition among private businesses and not controlled by a government

communism – n. a way of organizing a society in which the government owns the things that are used to make and transport products and there is no privately owned property

cosmetic – n. a substance such as a cream, lotion, or powder that you put on your face or body to improve your appearance

Now it’s your turn. Do wealthy people have a responsibility to help poor communities? Do free market economies offer the same opportunities to everyone? Let us know in the comments section.