Economics & Markets
Economic systems, market behavior, production, trade, and national economic policy.
85 words
Download MarkdownSome words in this topic are A2–C2 — part of Pro. A1 words are always free.
Go ProA1 (1)
A2 (12) Pro
cost
A2
/ˈkɔst/
The amount of money needed to buy or do something.
M
S
interest
A2
/ˈɪn.tɹɛst/
a feeling of wanting to know about or take part in something.
M
S
opportunity
A2
/ˌɑ.pɚˈt(j)u.nə.ti/
A chance to do something, especially something useful or good.
M
S
market
A2
/ˈmɑɹkɪt/
A place where people buy and sell goods, often outdoors with stalls.
M
S
trade
A2
/ˈtreɪd/
The activity of buying and selling goods and services.
M
S
competition
A2
/ˌkɑm.pəˈtɪʃ.ən/
An organized event where people try to win by being the best.
M
S
exchange
A2
/ɛksˈt͡ʃeɪnd͡ʒ/
To give something and receive something else in return.
M
S
capital
A2
[ˈkʰæp.ɪ.ɾɫ̩]
The most important city of a country or region, usually where the government is.
M
S
production
A2
/pɹəˈdʌkʃən/
The process of making or growing something, usually in large amounts.
M
S
wealth
A2
/wɛlθ/
A large amount of money and valuable possessions.
M
S
labor
A2
/ˈleɪ.bɚ/
Hard work, especially physical work done for pay.
M
S
budget
A2
/ˈbʌd͡ʒ.ət/
A plan of how much money you have and how you will spend it
M
S
B1 (33) Pro
loss
B1
/lɔs/
The fact of no longer having something you once had.
M
S
boom
B1
/bum/
To grow or develop very quickly and successfully.
M
S
debt
B1
/dɛt/
Money that you owe to someone else.
M
S
supply
B1
/səˈplaɪ/
To provide something that someone needs or wants.
M
S
demand
B1
/dɪˈmænd/
A strong and firm request for something.
M
S
bust
B1
/bʌst/
To break something, or to break open suddenly and forcefully.
M
S
producer
B1
/pɹəˈdusɚ/
A person or company that makes goods or grows food to be sold.
M
S
profit
B1
/ˈpɹɑfɪt/
The money you gain after subtracting your costs, especially in business.
M
S
economy
B1
/iˈkɑ.nə.mi/
The system by which a country produces, sells, and uses goods, services, and money.
M
S
recovery
B1
/ɹɪˈkʌvəɹi/
A return to good health after illness or injury.
M
S
income
B1
/ˈɪnˌkʌm/
The money a person or organization earns or receives, usually regularly.
M
S
bubble
B1
/ˈbʌb.l̩/
A thin ball of liquid filled with air or gas
M
S
depression
B1
/dəˈpɹɛʃn̩/
A mental illness that makes someone feel very sad and hopeless for a long time.
M
S
growth
B1
/ɡɹoʊθ/
An increase in size, number, value, or strength.
M
S
economic
B1
/ˌɛkəˈnɑmɪk/
Relating to trade, industry, and the management of money in a country or region.
M
S
poverty
B1
/ˈpɑːvɚti/
The state of being very poor and having little money.
M
S
employment
B1
/ɪmˈplɔɪmənt/
Paid work, or the state of having a job
M
S
competitive
B1
/kəmˈpɛtɪtɪv/
Involving people or companies trying to be more successful than one another.
M
S
currency
B1
/ˈkʌɹ.ən.si/
The system of money used in a particular country.
M
S
distribution
B1
/ˌdɪstɹəˈbjuːʃən/
The way something is spread out or arranged over an area or group.
M
S
unemployment
B1
/ʌn.ɪmˈplɔɪ.mənt/
The state of not having a job.
M
S
efficiency
B1
/ɪˈfɪʃ.ən.si/
The quality of doing something well without wasting time, effort, or money.
M
S
economics
B1
/ˌɛkəˈnɑmɪks/
The study of how money, goods, and services are produced, shared, and used.
M
S
shortage
B1
/ˈʃɔː(ɹ)tɪd͡ʒ/
A situation in which there is not enough of something.
M
S
B2 (16) Pro
saving
B2
/ˈsæɪ.vɪŋ/
Money you keep instead of spending, set aside for the future (usually plural: savings).
M
S
investment
B2
/ɪnˈvɛstmənt/
Money put into a business or shares with the hope of making a profit.
M
S
enterprise
B2
/ˈɛntɚˌpɹaɪz/
A company or business.
M
S
wage
B2
/weɪd͡ʒ/
The money a worker is paid for their work, usually by the hour or week.
M
S
revenue
B2
/ˈɹɛvəˌn(j)u/
The money a business or organization earns from its activities.
M
S
margin
B2
/ˈmɑɹ.d͡ʒɪn/
The empty space around the edge of a page.
M
S
import¹
B2
/ˈɪm.pɔɹt/
A product or good brought in from another country.
M
S
output
B2
/ˈaʊtpʊt/
The amount of something produced by a person, machine, or factory.
M
S
export¹
B2
/ˈɛks.pɔɹt/
A product that is sold and sent to another country.
M
S
inflation
B2
/ɪnˈfleɪ.ʃən/
A general rise in prices over time, which makes money worth less.
M
S
socialism
B2
/ˈsoʊʃəlɪzəm/
Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
M
S
incentive
B2
/ɪnˈsɛntɪv/
Something that encourages you to do something, often a reward or payment.
M
S
recession
B2
/ɹɪˈsɛʃn̩/
A period when a country's economy is weak and business activity falls.
M
S
fiscal
B2
/ˈfɪskəl/
Relating to government money, taxes, and public spending.
M
S
economist
B2
/iˈkɑ.nə.mɪst/
An expert in economics who studies how money, trade, and industry work.
M
S
globalization
B2
/ˌɡloʊ.bə.laɪˈzeɪ.ʃən/
The process by which businesses, ideas, and cultures spread and connect across the whole world.
M
S
C1 (14) Pro
speculation
C1
/ˌspek.jəˈlæɪ.ʃən/
An opinion or guess formed without firm evidence.
M
S
capitalism
C1
/ˈkæpɪ̈tl̩ˌɪzm̩/
An economic system in which businesses and property are privately owned and run for profit.
M
S
monopoly
C1
/məˈnɑpəli/
Complete control of a market by a single company, with no competition.
M
S
utility
C1
/juˈtɪl.ə.ti/
A basic public service such as electricity, gas, or water supplied to homes and businesses.
M
S
surplus
C1
/ˈsɝˌplʌs/
An amount that is more than what is needed or used.
M
S
deficit
C1
/ˈdɛfəsɪt/
The amount by which spending is greater than the money coming in.
M
S
productivity
C1
/ˌpɹɑ.dʌkˈtɪv.ɪ.ti/
The rate at which workers produce goods or services; how efficiently work is done.
M
S
inequality
C1
/ˌɪn.ɪˈkwɑ.lɪ.ti/
An unfair difference between groups of people, especially in wealth or opportunity.
M
S
expenditure
C1
/ɛkˈspɛndɪt͡ʃɚ/
The amount of money that is spent.
M
S
scarcity
C1
/ˈskɛɹsɪti/
a small and inadequate amount
M
S
allocation
C1
/ˌæl.əˈkæɪ.ʃən/
The process of giving out money, time, or resources for a particular purpose.
M
S
privatization
C1
/ˌpɹaɪvətaɪˈzeɪʃən/
The transfer of a company or service from government to private ownership.
M
S
stagnate
C1
/ˈstæɡneɪt/
to stop flowing or circulating and become still or stale
M
S
macroeconomics
C1
/ˌmækɹoʊɛkəˈnɑmɪks/
the study of an economy as a whole, including overall output, employment, and inflation
M
S
C2 (7) Pro
cartel
C2
/kɑːrˈtel/
an association of independent businesses or producers that coordinate prices, output, or markets in order to limit competition
M
S
commodity
C2
/kəˈmɑdəti/
A raw material or basic product that is bought and sold in large amounts, such as oil or grain.
M
S
equilibrium
C2
/ˌiːkwəˈlɪbriːəm/
A state of balance in which opposing forces or influences cancel each other out.
M
S
subsidy
C2
/ˈsɐbsɪdi/
Money given by a government or organization to help support a business or activity.
M
S
elasticity
C2
/ɪ.læsˈtɪs.ɪ.ti/
The ability of a material to return to its original shape after being stretched or squeezed.
M
S
nationalization
C2
/ˌnæʃ.ən.əl.əˈzeɪ.ʃən/
the transfer of a privately owned industry, service, or asset into ownership or control by a national government
M
S
oligopoly
C2
/ˌɑləˈɡɑpəli/
a market dominated by a small number of sellers
M
S
C2+ (2) Pro
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