Advanced General IELTS Words for "Finance and Currency"

price fixing

noun

/pɹˈaɪs fˈɪksɪŋ/

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an agreement between business rivals to not sell products at a lower price

Example

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The company was fined millions of dollars for engaging in price fixing with its competitors, violating antitrust laws.

The investigation uncovered evidence of price fixing among major pharmaceutical companies, artificially inflating drug prices.

Grammatical Information:

compound noun

alimony

noun

a

æ

l

i

ə

m

o

oʊ

n

y

i

the money that is demanded by the court to be paid to an ex-spouse or ex-partner

arrears

noun

a

ɜ

rr

r

ea

ɪ

r

s

z

an unpaid debt that is past due

collateral

noun

c

k

o

ə

ll

l

a

æ

t

e

ɜ

r

a

ə

l

a loan guarantee that may be taken away if the loan is not repaid

contingency

noun

c

k

o

ə

n

t

i

ɪ

n

g

ʤ

e

ə

n

c

s

y

i

the funds that are set aside for unforeseen expenses that may arise in the future

lump sum

noun

/lˈʌmp sˈʌm/

a single, large payment made in full, instead of smaller payments made over time

Grammatical Information:

compound noun

overhead

noun

/ˈoʊvɝˈhɛd/

the regular costs required for maintaining a business or an organization

top-up

noun

/ˈtɑˌpəp/

an extra amount of money added to an existing sum so that it reaches the required total

bubble

noun

b

u

ʌ

bb

b

ə

l

e

a rapid trend of increase in prices that eventually leads to a collapse

face value

noun

/fˈeɪs vˈæljuː/

the price that is imprinted on a product

Grammatical Information:

compound noun

outlay

noun

o

a

u

ʊ

t

l

a

e

y

ɪ

an amount of budget dedicated to something

income

receivables

noun

r

e

ɪ

c

s

ei

i

v

a

ə

b

ə

l

e

s

z

the amount of unpaid debt that a company expects to receive from its customers or another company

seed money

noun

/sˈiːd mˈʌni/

the initial amount of money needed to start a business or project

Grammatical Information:

compound noun

stake

noun

s

t

a

eɪ

k

e

an amount of money invested in a business

nickel

noun

n

i

ɪ

ck

k

e

ə

l

a five-cent coin of Canada and the US

corkage

noun

c

k

o

ɔ:

r

k

a

ɪ

g

ʤ

e

an amount of money charged by a restaurant for drinking a wine that was bought from somewhere else by the customer

What is "corkage"?

Corkage refers to the amount of money a restaurant charges for serving wine brought in by the customer. This fee covers the cost of opening and serving the wine, as well as the use of the restaurant's glassware and facilities. It is a common thing in many dining establishments that allows people to enjoy their own wine selection while dining out, with an additional cost.

gratuity

noun

g

r

a

ə

t

ui

uɪ

t

y

i

an additional amount of money given to someone for their services

What is "gratuity"?

Gratuity, often referred to as a tip, is an additional sum of money given voluntarily by a customer to a service worker, such as a waiter or bartender, in appreciation for good service. It is typically calculated as a percentage of the total bill and is not included in the advertised price of the meal or service. Gratuity is a customary practice in many countries, especially in the hospitality industry, and serves as a way for customers to express gratitude for excellent service.

clearing house

noun

/klˈɪɹɪŋ hˈaʊs/

a financial institution that oversees exchanging cheques and other financial transactions

Grammatical Information:

compound noun

giro

noun

g

ʤ

i

aɪ

r

o

oʊ

a predominantly european system that allows different institutions within a country to electronically transfer money

line of credit

noun

/lˈaɪn ʌv kɹˈɛdɪt/

the maximum amount of loan that a customer is allowed to receive

Grammatical Information:

compound noun

fintech

noun

f

i

ɪ

n

t

e

ɛ

ch

k

the technological innovation in financial services

pension pot

noun

/pˈɛnʃən pˈɑːt/

the total accumulated savings set aside for retirement

Grammatical Information:

compound noun

child support

noun

/tʃˈaɪld səpˈoːɹt/

a regular payment from one parent to financially support the child after a divorce

Grammatical Information:

compound noun

corporate welfare

noun

/kˈɔːɹpɚɹət wˈɛlfɛɹ/

subsidies, incentives, or benefits given by the government to big or growing businesses and corporations

Grammatical Information:

compound noun

curtailment

noun

c

k

u

ɜ

r

t

ai

eɪ

l

m

e

ə

n

t

the act of reducing or limiting something in order to reach financial stability

to wind down

Verb

/wˈɪnd dˈaʊn/

to slowly reduce the activity of a business or organization, leading to its eventual closure

Grammatical Information:

Phrasal Status

separable

phrase's verb

wind

phrase's particle

down

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