Here’s a list that will come in handy for any student enrolled in an English as a Second Language (ESL) School.
Account: the amount of money deposited with a bank, as in a checking or savings account: My account is now with First National.
ATM: an automated teller machine (outside some banks) that dispenses money when a personal coded card is use:We ran out of cash, but we were able to use the ATM to get some more.
Bank loan: a loan given by a bank; to be repaid with interest on or before a fixed date: As they didn’t have enough cash to buy a car, they had to apply for a bank loan.
Bankrupt: financially ruined: The company went bankrupt.
Brainstorm: try to solve a problem by thinking intensely about it: We brainstormed all afternoon in order to find a name for the product.
Branch: an administrative division of some larger or more complex organization: The company has branches all along the East coast.
Budget: a sum of money allocated for a particular purpose: The drugstore runs on a budget of a million a year.
Corporation: a business firm whose articles of incorporation have been approved by a state: Ours is a public service corporation.
Demand: the ability and desire to purchase goods and services: The demand exceeded the supply.
Deposit: a payment given as a guarantee that an obligation will be met: A previous deposit is required in order to guarantee the transaction.
Empower: to give or delegate power or authority to: The boss empowered her assistant to sign the contract.
Exchange rate: the ratio for exchanging currency of one country for currency of another: What’s the current exchange rate from the dollar to the euro.
Firm: the name under which members of a business organization own or operate one or more establishments: I worked for a brokerage firm.
Funds: assets in the form of money: Funds have been increasing in the last week.
Guarantee: a written assurance that a product or service will be provided or will meet certain specifications: This product has a one-year guarantee.
Lease: a contract granting use or occupation of property during a specified time for a specified payment: We rented out apartment on a two-year lease.
Mortgage: a conditional conveyance of property as security for the repayment of a loan: He took out a mortgage on his house to pay off his debts.
Supply: the offer of goods and services for sale: Food supplies are running low.
Transaction: the act of transacting within or between groups (as carrying on commercial activities): No transactions are possible without your signature.
All these words are going to help you understand better economy and economic news that bomb us every day. Do not get lost, study them thoroughly and expand your vocabulary. Remember practice makes perfection.
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