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GMAT Vocabulary
GMAT vocabulary words
7
Business
Graduate
07/22/2012
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Term
Ratchet
 Definition
a steady progression up or down: the upward ratchet of oil prices.
Term
arbitrage
 Definition
Finance . the simultaneous purchase and sale of the same securities, commodities, or foreign exchange in different markets to profit from unequal prices
Term
nihilist
 Definition
total rejection of established laws and institutions.
2.
anarchy, terrorism, or other revolutionary activity.
3.
total and absolute destructiveness, especially toward theworld at large and including oneself: the power-mad nihilismthat marked Hitler's last years.
4.
Philosophy .
a.
an extreme form of skepticism: the denial of all realexistence or the possibility of an objective basis fortruth.
b.
nothingness or nonexistence.
Term
incunabula 
 Definition
An artifact of an early period.
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