pattern

Vocabulary for IELTS (Academic) - Economics

Here you will learn some English words about economics, such as "deflation", "oligopoly", "budget", etc. that are needed for the IELTS exam.

review-disable

Review

flashcard-disable

Flashcards

spelling-disable

Spelling

quiz-disable

Quiz

Start learning
Words for Academic IELTS
account

an arrangement according to which a bank keeps and protects someone's money that can be taken out or added to

[noun]
daily words
wordlist
Close
Sign in
dictionary link
balance sheet

a written statement that shows the assets and liabilities of a company at a specific point in time

[noun]
daily words
wordlist
Close
Sign in
dictionary link
capital gains tax

a tax on the profit a corporation or an individual makes from selling shares or properties

[noun]
daily words
wordlist
Close
Sign in
dictionary link
deflation

(economics) a decrease in the amount of money in an economy, resulting in falling or unchanged prices

[noun]
daily words
wordlist
Close
Sign in
dictionary link
fiscal year

a period of 12 months based on which a company, government or individual does financial reporting or budgeting

[noun]
daily words
wordlist
Close
Sign in
dictionary link
golden rule

a fundamental principle that should be followed in order to achieve success

[noun]
daily words
wordlist
Close
Sign in
dictionary link
income tax

a tax paid to the government each year by a business or an individual based on their income

[noun]
daily words
wordlist
Close
Sign in
dictionary link
liquid assets

any item of value that can be sold easily or the amount of cash available to a company

[noun]
daily words
wordlist
Close
Sign in
dictionary link
microeconomics

(economics) the branch of economics that is concerned with the market behavior of companies and individuals in order to understand their decision-making processes

[noun]
daily words
wordlist
Close
Sign in
dictionary link
macroeconomics

(economics) the branch of economics that studies an economy or market system at a general level and deals with the interrelation of different sectors

[noun]
daily words
wordlist
Close
Sign in
dictionary link
oligopoly

(economics) a market structure in which only a few competitors are involved but none of them have the overall control

[noun]
daily words
wordlist
Close
Sign in
dictionary link
quota

(economics) an amount or share that each individual is entitled to receive

[noun]
daily words
wordlist
Close
Sign in
dictionary link
shareholder

a natural or legal person that owns at least one share in a company

[noun]
daily words
wordlist
Close
Sign in
dictionary link
tax haven

a country with stable economy that offers foreigners zero or near zero tax rates

[noun]
daily words
wordlist
Close
Sign in
dictionary link
unit trust

an investing company that facilitates investment in various businesses and provides profits paid directly to each unit owner

[noun]
daily words
wordlist
Close
Sign in
dictionary link
value-added tax

a tax put on the value added to a product at each stage of the supply chain, affecting the final price which the consumer pays

[noun]
daily words
wordlist
Close
Sign in
dictionary link
yield

the total amount of something that is produced, as in agriculture or an industry

[noun]
daily words
wordlist
Close
Sign in
dictionary link
investment

the money that is put into a business or financial activity to gain profit

[noun]
daily words
wordlist
Close
Sign in
dictionary link
budget

the sum of money that is available to a person, an organization, etc. for a particular purpose and the plan according to which it will be spent

[noun]
daily words
wordlist
Close
Sign in
dictionary link
currency

the type or system of money that is used by a country

[noun]
daily words
wordlist
Close
Sign in
dictionary link
to crash

(economics) to lose value suddenly and significantly

[Verb]
daily words
wordlist
Close
Sign in
dictionary link
deposit

(economics) an amount of money that is put into a bank account

[noun]
daily words
wordlist
Close
Sign in
dictionary link
asset

(usually plural) a property or an item of value that a company owns and can sell to pay its debts

[noun]
daily words
wordlist
Close
Sign in
dictionary link
finance

the act of managing large sums of money, especially by governments or corporations

[noun]
daily words
wordlist
Close
Sign in
dictionary link
capital

money or property owned by a person or company that is used for investment or starting a business

[noun]
daily words
wordlist
Close
Sign in
dictionary link
deficit spending

the spending of public funds provided from borrowing rather than taxation, done by a government in order to stimulate the economy

[noun]
daily words
wordlist
Close
Sign in
dictionary link
depression

a time of little economic activity and high unemployment, which lasts for a long time

[noun]
daily words
wordlist
Close
Sign in
dictionary link
savings

the amount of money that one has kept for future use, especially in a bank

[noun]
daily words
wordlist
Close
Sign in
dictionary link
profit

the sum of money that is gained after all expenses and taxes are paid

[noun]
daily words
wordlist
Close
Sign in
dictionary link
EPS

a financial measure that indicates a company's profit in relation to each outstanding share of common stock

[noun]
daily words
wordlist
Close
Sign in
dictionary link
half year

a period of six months, especially used in financial contexts

[noun]
daily words
wordlist
Close
Sign in
dictionary link
joint account

a bank account that has two or more owners

[noun]
daily words
wordlist
Close
Sign in
dictionary link
net asset value

the value of a company's assets minus its liabilities, divided by the number of outstanding shares

[noun]
daily words
wordlist
Close
Sign in
dictionary link
real interest rate

(economics) an interest rate that is adjusted in a way that removes the effects of inflation

[noun]
daily words
wordlist
Close
Sign in
dictionary link
x-efficiency

(economics) a company's inability to achieve maximum output from the input due to imperfect competition

[noun]
daily words
wordlist
Close
Sign in
dictionary link
commodity

(economics) an unprocessed material that can be traded in different exchanges or marketplaces

[noun]
daily words
wordlist
Close
Sign in
dictionary link
LanGeek
Download LanGeek app