Vocabulary: “Economy and crisis”
“If money is your hope for independence you will never have it. The
only real security that a man will have in this world is a reserve of
knowledge, experience, and ability.” ~Henry Ford
ASSETS n. pl. All of the money and property which a company or person owns, and which they
may sell or use if necessary.
BE FIRED v. Be dismissed.
BE ON THE DOLE v. To get money from the government because you are unemployed.
BENEFIT n. The money given by the government to people who need financial help, for
C/U example because they cannot find a job. (unemployment benefit/ to be on benefit)
BILL n. A request for payment of money owed, or the piece of paper on which it is written.
BUDGET n. The amount of money a person, organization or government has to spend on
C/U something.
BLACK MARKET n. C Illegal trading of goods that are not allowed to be bought and sold, or that there
are not enough of for everyone who wants them.
CAPITAL n. U Money and possessions, especially a large amount of money used for producing
more wealth or for starting a new business.
CASH n.U Money, especially that which you have available to spend.
COST n. The amount of money needed to buy, do or make something (the cost of living)
C/U
COSTLY adj. Expensive, costing a lot of money.
TO CRASH v. If the stock market crashes, its value falls suddenly.
CRISIS /ˈkraɪ.sɪs/ (plural n. An urgent, difficult, dangerous situation (financial, economic, political crisis).
crises) C/U
DEBT n. Something, especially money, which is owed to someone else. (run into debt, be
C/U in debt to)
DECREASE v. To become less, or to make something become less
DEFICIT n. U The total amount by which money spent is more 1an money received
ECONOMY n. C The financial and business system that exists in a particular area or area. (global
economy, weak/ strong economy)
ECONOMICS n. U The study of how money is earned, spent and controlled.
EXPENSE/EXPENDITURE n. The total amount of money that a government or person spends.
C/U
FINANCE n. U Activities connected with the management of a company’s or country’s money.
FUNDS n. C Money needed or available to spend on something.
GO BANKRUPT v. If a company or business person goes bankrupt, they no longer have enough
money to pay what they owe and must stop doing business.
INCOME n. Money that is earned from doing work or received from investments
C/U
INCREASE v. To (make something) become larger in amount or size.
INSOLVENT adj. (especially of a company) not having enough money to pay debts, buy goods, etc.
INTEREST n. U 1. Money which is charged by a bank or other financial organization for borrowing
money.
2. Money that you earn from keeping your money in an account in a bank or other
financial organization
INVEST v. To put money, effort, time etc. into something to make a profit or get an
investment/investor n. C advantage
LEND v. If a bank or other organization lends money, it gives money to someone who
agrees that they will pay the money back in the future, usually with extra money
added to the original amount.
LOAN n. C A sum of money which is borrowed, often from a bank, and has to be paid back,
usually together with an extra amount of money that you have to pay as a charge
for borrowing.
LOSS n. C When a business spends more money than it earns.
MONETARY adj. Relating to the money in a country. (monetary policy, monetary control)
MORTGAGE n. An agreement which allows you to borrow money from a bank or similar
organization, especially in order to buy a house or apartment, or the amount of
money itself
OWE v. To need to pay or give something to someone because they have lent money to
you, or in exchange for something they have done for you.
PENSION n. C An amount of money that old people receive regularly from the government, their
former employer or an insurance company after paying in money for many years.
PROFIT n. Money which is earned in trade or business, especially after paying the costs of
C/U producing and selling goods and services.
PROFITABLE adj. Resulting in or likely to result in a profit or an advantage.
RECESSION n. A period when the economy of a country is not successful and conditions for
C/U business are bad.
SALES n.C The number of products sold.
SAVINGS n. C The money which you keep in an account in a bank or similar financial
organization
SHARE n. C One of the equal parts into which the ownership of a company is divided and
which can be bought by members of the public.
SPENDING CUTS n. C Reductions in public spending
STOCK MARKET n. C A place where parts of the ownership of companies are bought and sold, or the
STOCK EXCHANGE organization of people whose job is to do this buying or selling.
WITHDRAW (money) v. To take or move out or back, or to remove.
