Vocab
Definition
Example Sentence
Asset-stripping (noun)
the practice of buying a company which is in financial difficulties at a low price and then selling everything that it owns in order to make a profit
The businessman bought the company with the intention of asset-stripping it and then selling for a profit
Bailout (noun)
an act of giving money to a company, a foreign country, etc. that has very serious financial problems
The airline was saved by a government bailout.
Black market (noun)
an illegal form of trade in which foreign money, or goods that are difficult to obtain, are bought and sold
You could buy anything you needed on the black market.
Boom (noun)
sudden increase in trade and economic activity; a period of wealth and success
Living standards improved rapidly during the post-war boom.
broker/stockbroker (noun)
a person or an organization that buys and sells shares for other people
The bonds were sold through a stockbroker.
Budget (noun
the money that is available to a person or an organization and a plan of how it will be spent over a period of time
We decorated the house on a tight budget (=without much money to spend).
Budget (verb)
[intransitive, transitive] to be careful about the amount of money you spend; to plan to spend an amount of money for a particular purpose
If we budget carefully we’ll be able to afford the trip.
budget for something I’ve budgeted for two new members of staff.
Capitalism (noun)
an economic system in which a country’s businesses and industry are controlled and run for profit by private owners rather than by the government
the growth of industrial capitalism in the West
Collapse (verb)
a sudden fall in value
the collapse of share prices/the dollar/the market
Competition (noun)
[uncountable] competition (between/with somebody) (for something) a situation in which people or organizations compete with each other for something that not everyone can have
We are in competition with four other companies for the contract.
Competitor (noun)
a person or an organization that competes against others, especially in business
We produce cheaper goods than our competitors.
Consolidate (verb)
[transitive, intransitive] consolidate (something)(specialist) to join things together into one; to be joined into one
All the debts have been consolidated.
Corporate (adj)
connected with a corporation
The corporate identity has been damaged by the latest allegations.
Depreciate (verb)
[transitive] depreciate something (business) to reduce the value, as stated in the company’s accounts, of a particular asset over a particular period of time
The value of Bitcoin has depreciated in the last year.
Depression (noun)
[countable, uncountable] a period when there is little economic activity and many people are poor or without jobs
The country was in the grip of an economic depression
Deregulate (verb)
[often passive] deregulate something to free a trade, a business activity, etc. from rules and controls
The country has benefitted from the deregulated financial markets.
Dividend (noun)
an amount of the profits that a company pays to people who own shares in the company
The shareholders in Apple received dividend payments of 75p per share
downtrend/downturn (noun)
situation in which business activity or performance decreases or becomes worse over a period of time
There was a gradual downtrend in the price of grain.
a downturn in sales/trade/business
Entrepreneur (noun)
a person who makes money by starting or running businesses, especially when this involves taking financial risks
Richard Branson is one of the most successful British entrepreneurs
Equilibrium (noun)
a state of balance, especially between opposing forces or influences
We have achieved an equilibrium in the economy.
Employment (noun)
1 [uncountable, countable] work, especially when it is done to earn money; the state of being employed
Graduates are finding it more and more difficult to find employment.
Fair-trade (adj)
involving trade which supports producers in developing countries by paying fair prices and making sure that workers have good working conditions and fair pay
We buy 10% of our bananas from fair-trade sources.
Fiscal (adj)
connected with government or public money, especially taxes
The country’s fiscal system
Fraudulent (adj)
connected with government or public money, especially taxes
The company had to remove their advertisement because it was found to make fraudulent claims.
Free enterprise (noun)
an economic system in which private businesses compete with each other without much government control
Many people praise capitalism for its focus on free enterprise without all of the government interference that other financial systems are hindered by. (businessdictionary.com)
Free market (noun)
an economic system in which the price of goods and services is affected by supply and demand rather than controlled by a government
She was a supporter of the free market economy.
Free trade (noun)
a system of international trade in which there are no restrictions or taxes on imports and exports
The EU is a huge free-trade area.
Globalisation (noun)
the fact that different cultures and economic systems around the world are becoming connected and similar to each other because of the influence of large multinational companies and of improved communication
Globalisation has offered new opportunities, however it is reducing the individuality of countries.
Hyperinflation (noun)
a situation in which prices rise very fast, causing damage to a country’s economy
Unfortunately, hyperinflation is making basic necessities unaffordable in Venezuela.
Incentive (noun)
[countable, uncountable] incentive (for/to somebody/something) (to do something)something that encourages you to do something
There is no incentive for people to save fuel.
The government created incentives to encourage savings.
Inflation (noun)
a general rise in the prices of services and goods in a particular country, resulting in a fall in the value of money; the rate at which this happens
Wage increases must be in line with inflation.
Insider trading (noun)
the crime of buying or selling shares in a company with the help of information known only by those connected with the business, before this information is available to everybody
The stockbroker was accused of insider trading because his brother worked in a company that he invested in.
Instability (noun)
the quality of a situation in which things are likely to change or fail suddenly
The country has political and economic instability.
Interest (noun)
[uncountable] interest (on something) (finance)the extra money that you pay back when you borrow money or that you receive when you invest money
The money was repaid with interest.
Interest rates have risen by 1%
Investment (noun)
[uncountable] the act of investing money in something
This country needs investment in education.
Interventionism (noun)
the policy or practice of a government influencing the economy of its own country, or of becoming involved in the affairs of other countries
The UN adopted a more interventionist approach in the region.
This interventionist approach stands uneasily alongside the free-market rationale
Laissez-faire (noun)
the policy of allowing private businesses to develop without government control
The government believed in Laissez-Faire economics, where humans affected the markets due to their selfish interests.
Launder (verb)
launder something to move money that has been obtained illegally into foreign bank accounts or legal businesses so that it is difficult for people to know where the money came from
Most of the drugs money was laundered through Swiss bank accounts.
Leveraged buyout (noun)
a business arrangement in which someone buys a company by borrowing money based on the value of the company that is being bought
Manchester United was bought using a leveraged buyout, the investors used the stadium and high revenues to finance the deal.
Liquidity (noun)
the state of owning things of value that can easily be exchanged for cash
Financial institutions must maintain sufficient liquidity to meet the demands of depositors.
Try these exercises to put the vocabulary into use. Exercise 1 (Simple) Write your own sentences with the vocab from this list. Example 2 (Advanced) Write a summary of the economy in your country or another country you know well.
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By Clare Fieseler | 08/21/2024 01:32 PM EDT
In a Foreign Affairs essay, the former National Economic Council director pushed for a new clean energy financing authority similar to the Department of Energy’s loan office.
Former National Economic Council Director Brian Deese. Anna Moneymaker/Getty Images
Former National Economic Council Director Brian Deese is calling for a “Clean Energy Marshall Plan” and a comprehensive approach to trade and diplomacy to help countries “most vulnerable” to the effects of climate change.
Deese, who reportedly is advising Vice President Kamala Harris in her presidential bid, wrote in a Foreign Affairs essay Tuesday that the U.S. should create a “Clean Energy Finance Authority” managed by the Treasury Department that would subsidize foreign demand for clean energy technologies and “put American innovation and industry at the front of the line.”
The first step in a climate-minded Marshall Plan was accomplished two years ago with the passage of the Inflation Reduction Act by “accelerating the clean energy transition at home,” wrote Deese, who currently is a fellow at the Massachusetts Institute of Technology’s Center for Energy and Environmental Policy Research. The next step is to accelerate a transition away from fossil fuels abroad while promoting U.S. interests, he said.
One model for a new clean energy finance authority could be the Department of Energy’s loan office, according to Deese. He also called for the creation of a “Clean Energy Resilience Authority” to ensure clean energy supply chains are resilient but aligned with “expanded, stronger, and smarter” trade that promotes manufacturing with multiple trade partners. The U.S. also should build a strategic reserve for critical minerals, similar to the Strategic Petroleum Reserve, he said.
The transformation of the energy sector.
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Answers. ···. Opinion. Some people today believe that the world's increase in population is unsustainable and will eventually lead to a global crisis. Other people believe that a world population increase is necessary and beneficial as it creates the growth of the world's economy and society. Discuss both these views and give your opinion.
Read the sample essay for 'Some people say that economic growth is the only way to end hunger and poverty, while others say that economic growth is damaging the environment so it must be stopped.Discuss both views and give your opinion.' Outline Essay Type. Discussion Essay Introduction. Refer to the first view; Refer to the second view
Escalate (verb) increase, develop. By dint of something (phrase) by means of something. Outsourcing (noun) an arrangement in which work is done by people from outside your company. Haves (noun) rich. Have-nots (noun) economically disadvantaged | poor. Tags. writing task 2.
This is an IELTS Writing Task 2 sample answer from the real test/exam related to the economy and the environment. Both topics - economics and the environment - are really common on IELTS and might come up on the listening, reading, writing, or speaking test. Be sure to check out my Patreon exclusive essays as well. Enjoy! Dave
1. Many today have made the argument that governments are overly focused on economic development to the detriment of more valuable areas of progress. 2. In my opinion, though economic progress is often the catalyst for different forms of growth, the other areas are at least equally as important. Paraphrase the overall essay topic.
50 Latest Economics IELTS Topics. Get a band score and detailed report instantly. Check your IELTS essays right now! Although many people value public parks, this space could be better used for the other purposes such as residential areas for the ever growing population or to develop business and build economics.
50 Latest Economies IELTS Topics. Get a band score and detailed report instantly. Check your IELTS essays right now! Today, people think that attraction of foreign investment is necessary and important for the development of the economies of the host countries, while the others think that attraction of foreign investment has negative impact on ...
Earning less money and having more free time is better than having more money and less free time. Discuss both views and state your opinion. Some companies sponsor sports events in order to advertise themselves and some people think that is okay, while others think there are disadvantages to this. Discuss both sides and give your own opinion.
Write at least 250 words. Sample Answer 1: Many governments believe that economic advancement is the key to success, while others opine that many other aspects such as green environment, social security, peace, and traditions and culture are more important. I personally believe that economic success could be an important goal for a government ...
Explain the topic. Give essay overview, inc. my opinion. Body paragraph #1. Show how it is difficult for countries to develop without destroying their environment. Body paragraph #2. Show how some countries have managed to develop without destroying their environment. Conclusion. Summarise and reaffirm my opinion.
Sample Answer 3: Globalization has benefited most of the countries. However, everything has two sides, globalization may also have disadvantages. In this essay, I will discuss both the pros and cons of globalization in today's world. First of all, globalization has greatly influenced the world's economy in many positive ways.
IELTS Writing Task 2/ IELTS Essay: You should spend about 40 minutes on this task. In recent time economic growth has made some people richer in both developed and developing countries. While studies show that people in developing countries are happier now than before, people in developed countries are no happier than they were before.
In this blog post, we have compiled a list of 100 Band 7, 8, and 9 IELTS Writing Task 2 essay samples to help you improve your writing skills and boost your chances of achieving a high score on the exam. These sample essays cover a wide range of topics, from education and technology to health and environment, and are a valuable resource for ...
Business & Money Essay Questions for IELTS Writing Task 2. In some countries, a few people earn extremely high salaries. Some people think that this is good for a country, while others believe that the government should control salaries and limit the amount people can earn. Discuss both views and give your opinion.
1. Globalization also creates apparent cultural advantages. 2. Individuals from all around the world can experience the latest Hollywood movies and listen to their favorite artists on applications like Spotify. 3. This undoubtedly influences and encourages other entertainers to work hard and produce quality content.
Some people think the increasing business and cultural contact between countries brings many positive effects. Others say it causes the loss of national identities. Discuss both view and give your opinion. SAMPLE ESSAY BAND 8+ The growing international trade activities and interactions among countries has boosted economic development and better cross-cultural understanding on a global […]
Model Answer: In assessing a country's progress, the debate often revolves around whether economic success alone dictates overall development or whether various other factors play pivotal roles. While economic growth certainly holds significance, I believe that other aspects contribute significantly to a nation's progress, and one single factor ...
IELTS Economy Vocabulary List Part 1. IELTS Vocabulary Builder-Homepage. IELTS Writing Task 2 Questions 2020. Many IELTS writing questions could potentially have a link with the economy and it is one of the areas that some students struggle to write about. Sometimes that is linked to a lack of knowledge of the economy in their own language, but ...
1. The first sentence is a topic sentence that includes my main idea for the whole paragraph (governments can effect more change). 2. The second sentence further supports my main idea by pointing out that individuals will not be able to have a large impact on the environment. 3.
50 Latest Environment IELTS Topics. Get a band score and detailed report instantly. Check your IELTS essays right now! Some people say that the main environmental problem of our time is the loss of particular species of plants and animals. Others say that there are more important environmental problems.
an economic system in which a country's businesses and industry are controlled and run for profit by private owners rather than by the government. the growth of industrial capitalism in the West. Collapse (verb) a sudden fall in value. the collapse of share prices/the dollar/the market. Competition (noun)
In a Foreign Affairs essay, the former National Economic Council director pushed for a new clean energy financing authority similar to the Department of Energy's loan office. Former National ...
Climate change is one of the biggest environmental problems of the 21st century. Some people think that humans should stop using oil, gas and coal and switch to alternative energy resources, such as wind and solar power. Others claim that fossil fuels are essential for many industries, and not using them will result in economic recession.