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Essential Words Needed for the GRE - Money Doesn’t Grow on Trees!

Here you will learn some English words about finance, such as "audit", "undercut", "subsidy", etc. that are needed for the GRE exam.

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Essential Words Needed for the GRE
audit
[noun]
a formal inspection of a business's financial records to see if they are correct and accurate or not
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bankroll
[noun]
the total amount of money a person or business has for spending or investing
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bankruptcy
[noun]
a situation in which a person or business is unable to pay due debts
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voucher
[noun]
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 undercut
[verb]
to demand a lower price than one's rivals
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treasury
[noun]
the funds and resources that a country or organization controls
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tax evasion
[noun]
the offense of not paying taxes
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taxation
[noun]
the system in which government officials charge each resident with a specific amount of money to spend on necessary things like education, defence, and etc.
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tariff
[noun]
a tax paid on goods imported or exported
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subsidy
[noun]
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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stagflation
[noun]
an economic situation with persistent high inflation and a high unemployment rate
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collateral
[noun]
a loan guarantee that may be taken away if the loan is not repaid
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contingency
[noun]
the funds that are set aside for unforeseen or unexpected expenses that may arise in the future
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cryptocurrency
[noun]
a digital or virtual form of currency secured by cryptography
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depression
[noun]
a time of little economic activity and high unemployment, which lasts for a long time
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equity
[noun]
the money one owns in a property after paying back any money one borrowed to buy it
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face value
[noun]
the stated value of something like money or a ticket; not considering its actual value
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fiscal
[adjective]
relating to government revenue or public money, especially taxes
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fluctuation
[noun]
the irregular or unpredictable variation in something over time, characterized by alternating changes
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incentive
[noun]
a payment or concession to encourage someone to do something specific
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liquidity
[noun]
financial assets in the form of money or able to be easily converted into money
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monetarism
[noun]
the theory or policy of controlling the amount of money in circulation as the preferred method of stabilizing the economy
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overdraft
[noun]
a deficit in a bank account caused by withdrawing more money than is available
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to quote
[verb]
to estimate how much money something will cost
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commodity
[noun]
(economics) an unprocessed material that can be traded in different exchanges or marketplaces
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conglomerate
[noun]
a corporation formed by merging different firms or businesses
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dividend
[noun]
an amount of money paid regularly to the shareholders of a company
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proprietor
[noun]
the owner of a property or business
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subsidiary
[noun]
a business company controlled or owned by a holding or parent company
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venture
[noun]
a business activity that is mostly very risky
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artisan
[noun]
a skilled craftsperson who creates objects partly or entirely by hand
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labor-intensive
[adjective]
related to a line of work that requires large groups of workers to be able to function
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menial
[adjective]
(of work) not requiring special skills, often considered unimportant and poorly paid
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painstaking
[adjective]
requiring, involving, or done with a lot of effort and care
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sabbatical
[noun]
a paid time-off that a worker can take from their everyday job to rest, study, or travel; usually one year for every seven years of employment
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taxing
[adjective]
demanding, burdensome, or requiring a considerable amount of effort and energy to deal with
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tedious
[adjective]
boring and repetitive to the point of causing mental fatigue
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minute
[noun]
very small and insignificant
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hectic
[adjective]
busy and full of activity
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