VOCABULARY for IELTS
Cash – money in the form of notes and coins, rather than cheques or credit cards.
Sentence – John always pays cash down for anything he buys.
Competition – a situation in which someone is trying to win something or be more successful than someone else.
Sentence – You can’t realistically expect to win the whole competition.
Consumer – a person who buys goods or services for their own use.
Sentence – For a monthly flat fee, paid by the consumer or employer, HMOs provide a specified list of medical services both in and outside the hospital.
Consumer goods – products that people buy for their own use.
Sentence – In these four ways, housing differs from other consumer goods though it remains fundamentally a private market commodity.
Cost – the amount of money needed to buy, do, or make something.
Sentence – This hard-wearing material combines cost effectiveness with quality.
Crash – If a vehicle crashes or someone crashes it, it is involved in an accident, usually a serious one in which the vehicle is damaged and someone is hurt.
Sentence – The impact of the crash reduced the car to a third of its original length.
Credit – a method of paying for goods or services at a later time, usually paying interest as well as the original money.
Sentence – The fundamental defect of fathers is that they want their children to be a credit to them.
Currency – the money that is used in a particular country at a particular time.
Sentence – Investors and currency dealers were caught completely unawares by the Bundesbank’s action.
Debt- something, especially money, that is owed to someone else, or the state of owing something.
Sentence – They’ve borrowed so much money that they’re up to their ears in debt.
Deficit – the total amount by which money spent is more than money received.
Sentence – Failing to tackle the deficit would be throwing away an opportunity we haven’t had for a generation.
Deposit – to leave something somewhere.
Sentence – A man on his way to deposit $120 000 in a bank was waylaid by two men who punched him and snatched his bag yesterday.
Depression – the state of feeling very unhappy and without hope for the future.
Sentence – One day depression descended upon him, and wherever he went after that he could never throw it off.
Economics – the way in which trade, industry, or money is organized, or the study of this.
Sentence – Where economics comes unstuck is when it doesn’t take account of the anticipated actions of human beings.
Economy – the system of trade and industry by which the wealth of a country is made and used.
Sentence – Their economy was the Cinderella of the industrialized world.
Finance – (the management of) a supply of money.
Sentence – Finance for a sole trader usually comes from the individual’s own savings or from family and friends.
Fiscal – connected with (public) money.
Sentence – Fiscal Welfare: the tax system which adjusts the level of income on which tax is payable through reliefs and allowances.
Global – relating to the whole world.
Sentence – Television has helped to create a global village.
Inflation – a continuing rise in prices caused by an increase in the money supply and demand for goods.
Sentence – Inflation is considered to be undesirable because of its adverse effects on income distribution.
Interest – money that is charged by a bank or other financial organization for borrowing money.
Sentence – The bank strongly resisted cutting interest rates.
