Money Doesn’t Grow on Trees!

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20 min
Essential Vocabulary for the GRE - Money Doesn’t Grow on Trees!

Essential Vocabulary for the GRE
auditnoun

a formal inspection of a business's financial records to see if they are correct and accurate or not

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bankrollnoun

a roll of currency notes (often taken as the resources of a person or business etc.)

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bankruptcynoun

a situation in which a person or business is unable to pay due debts

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vouchernoun

a digital code or a printed piece of paper that can be used instead of money when making a purchase or used to receive a discount

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to undercutverb

sell cheaper than one's competition

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treasurynoun

the funds of a government or institution or individual

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tax evasionnoun

the offense of not paying taxes

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taxationnoun

the imposition of taxes; the practice of the government in levying taxes on the subjects of a state

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tariffnoun

a tax paid on goods imported or exported

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subsidynoun

an amount of money that a government or organization pays to lower the costs of producing goods or providing services so that prices do not increase

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stagflationnoun

an economic situation with persistent high inflation and a high unemployment rate

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collateralnoun

something pledged as a guarantee for a loan that will be forfeited if the loan is not repaid

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contingencynoun

*** ‌a sum of money that you keep for additional payments

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cryptocurrencynoun

*** any system of electronic money, used for buying and selling online and without the need for a central bank

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depressionnoun

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

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equitynoun

the monetary value of a property that remains after all due debts or the mortgages are paid

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face valuenoun

the apparent worth as opposed to the real worth

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fiscaladjective

relating to government revenue or public money, especially taxes

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fluctuationnoun

the quality of being unsteady and subject to changes

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incentivenoun

a payment or concession to encourage someone to do something specific

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liquiditynoun

financial assets in the form of money or able to be easily converted into money

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monetarismnoun

the theory or policy of controlling the amount of money in circulation as the preferred method of stabilizing the economy

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overdraftnoun

a draft in excess of the credit balance

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to quoteverb

name the price of

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commoditynoun

(economics) a basic product or raw material that can be purchased or sold

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conglomeratenoun

a corporation formed by merging different firms or businesses

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dividendnoun

an amount of money paid regularly to the shareholders of a company

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proprietornoun

the owner of a property or business

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subsidiarynoun

a business company controlled or owned by a holding or parent company

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venturenoun

a business activity that is mostly very risky

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artisannoun

a person whose job requires special skills and making things using hands

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labor-intensiveadjective

requiring a large expenditure of labor but not much capital

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menialadjective

(of work) not requiring special skills, often considered unimportant and poorly paid

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painstakingadjective

requiring, involving, or done with a lot of effort and care

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sabbaticalnoun

a leave usually taken every seventh year

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taxingadjective

not easily borne; wearing

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tedious
tediousadjective

continuing for too long and boring

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minutenoun

a short note

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hecticadjective

busy and full of activity

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