Vocabulary About the Economy | Read and Put New Words In Context

ABOUT THE LESSON 📚
With so many economies struggling all over the world, this has become an important topic of discussion. So I want to teach you new vocabulary that you might encounter if you're reading the news. We'll look at different online articles and talk about some of the useful words and phrases related to the economy.

Here are the words form the lesson.

1) Bankrupt (adjective) – unable to pay what you owe
2)

(to declare) bankruptcy – legal proceeding involving a company that is unable to pay its debts
3)

capital – money (resources) used to run a business
4)

insolvent (adjective) – no able to pay debts
5)

to forecast - to predict what will happen in the future
6)

prop up – to support something

7) grim (adjective) – bad/dark

8) GDP (gross domestic product) – total value of goods produced or services administered by a country

9) Depression – period with little business activity and few jobs

10) Recession – period with a bad business situation

11) Collapsed – fell down or fell apart

12) Demand – the people who want things

13) Supply – the availability of things

14) Supply and demand

(binomial pair)
15) To contract - to become smaller or a reduction in size
16) To fall off a cliff – to fall sharply/plunge

17) An economic downturn – when the economy starts to contract (reduction in growth)

18) To fluctuate – to go up and down

19) Slump (adjective) – period in which things are not going well

20) To stagnate – when there is no growth or development

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[eugelenarcisse]

This lesson has been offered great opportunity to improve English vocabulary. A grim situation brought my father's business into bankruptcy, so it shrunk the business first, and finally it collapsed. That situation has been showing a severe scarce in our life, the failure is like our activity fell off a cliff.

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