Vocabulary for IELTS (General) - Money

Here you will learn some English words about money, such as "asset", "discount", "pension", etc. that are needed for the IELTS exam.

Review

Flashcards

Spelling

Quiz

Start learning

annual

[Adjective]

happening, done, or made once every year

Ex: The school organized its annual sports day event in the fall .

asset

[noun]

a valuable resource or quality owned by an individual, organization, or entity, typically with economic value and the potential to provide future benefits

Ex: Goodwill , reflecting a company 's reputation and customer loyalty , is considered an asset on its balance sheet .

auction

[noun]

a public sale in which goods or properties are sold to the person who bids higher

Ex: The auction house specializes in selling fine art and jewelry.

to bargain

[Verb]

to negotiate the terms of a contract, sale, or similar arrangement for a better agreement, price, etc.

Ex: The union bargained with the company management for improved working conditions and better wages for its members .

benefit

[noun]

a financial aid provided by the government for people who are sick, unemployed, etc.

Ex: Many citizens rely on social benefits to cover basic living expenses during difficult times .

betting

[noun]

the act of risking money on the result of an unpredictable event

budget

[noun]

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

Ex: The project ran over budget, leading to cuts in other areas .

to decrease

[Verb]

to become less in amount, size, or degree

Ex: The number of visitors to the museum has decreased this month .

discount

[noun]

the amount of money that is reduced from the usual price of something

Ex: The store provided a 15 % discount for first-time customers .

economics

[noun]

the study of how money, goods, and resources are produced, distributed, and used in a country or society

Ex: Behavioral economics studies how emotions and psychology influence financial decisions .

expense

[noun]

the amount of money spent to do or have something

Ex: Many people use budgeting apps to categorize their expenses and identify areas where they can cut back to save money .

fair trade

[noun]

trading practices that do not put consumers at a disadvantage

fare

[noun]

the amount of money we pay to travel with a bus, taxi, plane, etc.

Ex: The subway fare increased by 10% this year.

fund

[noun]

a sum of money that is collected and saved for a particular purpose

Ex: They set up a fund to help flood victims .

globalization

[noun]

the fact that the cultures and economic systems around the world are becoming connected and similar as a result of improvement in communications and development of multinational corporations

Ex: The cultural influence of Hollywood is a major example of globalization in the entertainment industry .

inflation

[noun]

the ongoing increase in the general price level of goods and services in an economy over a period of time

Ex: Wages failed to keep up with inflation, affecting many households .

investment

[noun]

the act or process of putting money into something to gain profit

Ex: The government announced a major investment in renewable energy projects to combat climate change .

mortgage

[noun]

an official contract or arrangement by which a bank gives money to someone as a loan to buy a house and the person agrees to repay the loan over a specified period, usually with interest

Ex: Failure to make mortgage payments on time can lead to foreclosure , where the lender repossesses the property .

pension

[noun]

a regular payment made to a retired person by the government or a former employer

Ex: Government employees often receive a pension as part of their retirement benefits .

recession

[noun]

a hard time in a country's economy characterized by a reduction in employment, production, and trade

Ex: Economists predicted that the recession would last for several quarters before signs of recovery would emerge .

refund

[noun]

an amount of money that is paid back because of returning goods to a store or one is not satisfied with the goods or services

Ex: He requested a refund for the concert tickets since the event was canceled .

revenue

[noun]

money that a government collects in tax each year

stock market

[noun]

the business of trading and exchanging shares of different companies

Ex: The global pandemic had a profound impact on the stock market, leading to volatile fluctuations .

unstable

[Adjective]

prone to sudden change or alteration

Ex: The unstable nature of the relationship led to frequent arguments .

wage

[noun]

money that a person earns, daily or weekly, in exchange for their work

Ex: The government implemented policies to ensure fair wages and improve living standards for workers.

to appreciate

[Verb]

(of value or price) to gradually rise

Ex: The art collector 's investment paid off as the paintings appreciated considerably over the years .

bankruptcy

[noun]

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

Ex: The risk of bankruptcy increased as the market conditions worsened .

capitalism

[noun]

an economic and political system in which industry, businesses, and properties belong to the private sector rather than the government

Ex: The collapse of the socialist regimes in Eastern Europe marked a shift towards capitalism in those countries .

Vocabulary for IELTS (General)

Download LanGeek app

Langeek

Vocabulary for IELTS (General) - Money