💹 Economy & Finance · IELTS Vocabulary by Topic · 20 words

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inflation /ɪnˈfleɪʃn/ n	a general rise in prices and fall in the value of money High inflation makes it difficult for ordinary families to afford basic goods.
recession /rɪˈseʃn/ n	a period when economic activity and trade decline Thousands of small businesses closed during the recession.
investment /ɪnˈvestmənt/ n	the act of putting money into something to make a profit Foreign investment has created many jobs in the manufacturing sector.
revenue /ˈrevənjuː/ n	the money that a government or company receives Tourism generates significant revenue for many island nations.
budget /ˈbʌdʒɪt/ n	the amount of money available for a purpose over a period of time A large part of the national budget is spent on defence.
debt /det/ n	money that is owed to someone else Many graduates leave university with a huge amount of debt.
interest rate /ˈɪntrəst reɪt/ n	the percentage charged for borrowing money or paid on savings The central bank raised the interest rate to slow down inflation.
economic growth /ˌiːkəˌnɒmɪk ˈɡrəʊθ/ n	an increase in the amount of goods and services a country produces Rapid economic growth has lifted millions of people out of poverty.
unemployment /ˌʌnɪmˈplɔɪmənt/ n	the situation of not having a job; the number of people without jobs Youth unemployment remains a serious problem in many European countries.
currency /ˈkʌrənsi/ n	the system of money used in a particular country A weak currency can make exports cheaper and more competitive.
export /ˈekspɔːt/ n	goods sold to another country, or the business of selling them Rice and coffee are among the country's most important exports.
tariff /ˈtærɪf/ n	a tax charged on goods coming into or leaving a country Higher tariffs on imported cars are intended to protect local manufacturers.
prosperity /prɒˈsperəti/ n	the state of being successful and having a lot of money Free trade has brought prosperity to many coastal cities.
subsidy /ˈsʌbsədi/ n	money that a government pays to reduce the cost of something Farmers receive government subsidies to keep food prices low.
profitable /ˈprɒfɪtəbl/ adj	making or likely to make money Online retail has become far more profitable than traditional shops.
expenditure /ɪkˈspendɪtʃə(r)/ n	the total amount of money spent by a person, company or government Government expenditure on education has doubled over the past decade.
affluent /ˈæfluənt/ adj	having a lot of money and a comfortable way of life Obesity is becoming more common in affluent societies.
fiscal /ˈfɪskl/ adj	connected with government money, especially taxes and spending The government must adopt a responsible fiscal policy to reduce its debt.
stock market /ˈstɒk mɑːkɪt/ n	the business of buying and selling shares in companies Many people lost their savings when the stock market crashed.
downturn /ˈdaʊntɜːn/ n	a fall in the amount of business or economic activity The tourism industry was badly hit by the economic downturn.