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Essential Words Needed for TOEFL - The Economy
Here you will learn some English words about the economy, such as "credit", "due", "yield", etc. that are needed for the TOEFL exam.
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capital
[noun]
money or property owned by a person or company that is used for investment or starting a business
credit
[noun]
the ability to buy something from a shop or receive money from a bank based on trust, without paying for it immediately
bank statement
[noun]
a printed record of a bank account showing the amount of money paid into or withdrawn from it
benefit
[noun]
the occasions or events like concert or performance that are arranged with the aim of generating funds for those who are in need
to freeze
[verb]
to legally prevent money, property, or a bank account from being used or sold
donation
[noun]
something that is voluntarily given to someone or an organization to help them, such as money, food, etc.
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
asset
[noun]
(usually plural) a property or an item of value that a company owns and can sell to pay its debts
to transfer
[verb]
to make a person or thing move from a place, situation, or person to another
economy
[noun]
the system in which money, goods, and services are produced or distributed in a country or region
supply and demand
[phrase]
the relationship between the amount of goods or services that are available and the amount that people want to buy, especially when this controls prices
share
[noun]
any of the equal portions of a company's stock that is available for public to buy and gain benefit
recession
[noun]
a hard time in a country's economy characterized by a reduction in employment, production, and trade
fundraising
[noun]
the process or provision of financial aid for something such as a charity or cause, usually through holding special events
free trade
[noun]
a system of international trading in which there are no restrictions or taxes on goods bought or sold
free market
[noun]
an economic system that is not operated by the government rather by free competition and supply and demand
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