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Chapter 1 (31 entries)
What is Economics?
acquire (land, business, reputation, knowledge, language, etc.)
acquired immune deficiency syndrome, AIDS
acquisition (second language acquisition, ~ of land)
allocate smth. to smb. or for smth. (resources, time, money)
alter (radically, dramatically, ~ beyond recognition)
alteration (minor, major ~), undergo ~s.
alternate, v. (periods, seasons ~)
alternative (ways, approaches, suggestions; medicine, therapies)
commodity (agricultural commodities, Commodity/Labor Exchange)
consumption (mass, domestic, industrial ~; conspicuous ~)
consume (goods, energy, time, time-consuming),
consumer (~ goods, ~ society)
enact (law, bill)
forego, forwent, forgone (earnings, income, lunch)
fundamental (change, difference, distinction, mistake, error, human rights)
hoard (food, clothes, supplies)
incentive (create, provide, give ~; financial, tax ~, strong, powerful ~)
intervention (military, medical ~)
intervene (in a dispute, a fight)
optimize (use of resources, expenses)
optimum (conditions)
promote (products, ideas, people, development, recycling, violence)
promotion (good prospects for ~)
promoter
(ir)relevant (documents, information, experience)
scarce (resource)
scarcity (of funds, employment opportunities)
favorable balance of trade
laissez faire
production cost, marginal cost of production
foregone earnings
Chapter 2 (31 entries)
Supply, Demand and Market Price
to be attuned to (peoples needs, youth culture)
concede to smb. on smth. (e.g. to terrorists, on privileges), concession (e.g. tax ~, travel ~ to pensioners)
conspicuous (e.g. ~consumption, success,failure)
constant
contemporary (music, art); most of his contemporaries (noun)
conventional (methods, wisdom, medicine); ~ war(without the use of nuclear weapons)
diminish (influence, importance; his enthusiasm ~ed)
equilibrium (to maintain, upset ~)
exert (~influence, pressure, control; ~oneself)
function (~as smth., ~ efficiently)
leisure (activities, facilities, opportunities), at (your) ~, ~wear, leisure class
margin (profit~); marginal (changes, improvements)
maximize/minimize (profits, benefits)
stifle (~innovations, business, democracy; ~ a smile)
tendency (to do smth., ~for smb. to do smth.)
potential (disaster, danger) adj. To reach, realize your (full) ~.
rows and columns (in a table)
horizontal axis
vertical axis
demand curve slopes downward
supply curve slopes upward
intersect
intersection point
dot, dotted line
holding everything else constant
equilibrium and nonequilibrium prices
excess supply/ demand
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overproduction
longterm unemployment
conspicuous consumption
Chapter 3 (33 entries)
The Entrepreneur in Market Economies
aggressive (behavior, policy negative; personality, ~ treatment plan - positive)
coax (~smth.; ~ smb. into doing smth.)
deplete (food supply, forests)
discard (a plan, an idea)
dominate (the market, the league, the conversation)
exploit (workers, children: mineral wealth, opportunities)
incessant (flow of traffic, rain, crying); ~ly
liability, ~ insurance; to be liable for smth.
minimize (costs, damage)
offensive (language, behavior: ~ operations, weapons)
patron, patron-of-the-arts. This car park is for patrons only.
revamp (a plan, a company/ branch)
shuffle (responsibilities, people, cards)
skeptic (noun), skeptical (about smth.), skepticism (treat smb. with~)
speculate (on/about smth.), speculation (to stimulate, provoke, fuel ~; pure/mere ~i.e. completely wrong) speculative
stimulate (investment, production, economy, interest)
visionary (reformer, leadership), a visionary(noun)
pie graphs
circle graphs
speculative risks
pure risks
risk management
risk avoidance
risk reduction
risk assumption
risk transfer
liability insurance
property insurance
business interruption insurance
venture capitalists; business venture; joint venture
take a mortgage
State of the Union Address (by the USA President)
management address on the state of the company
Chapter 4 (21 entries)
Production and Marketing
accessories (car, kitchen, computer ~)
attribute smth. to smb. (success, difficulties, qualities)
component (essential, key, major, principal ~s)
defective (product, car brakes); design/production defects
fantasize about smth.
longevity (to promote health and ~)
perceive, perceived (quality, threat, advantage)
phenomenal (success, increase, growth)
reputation (earn, gain, enjoy a ~ as sth.; good/bad~), live up to ones ~
trade-off (sth. for/against sth.)
by tenfold (also: increased tenfold)
to participate in production decisions
performance, high performance technology, to be fired for poor ~, ~-related pay, ~ review/assessment
features (distinctive ~, safety ~)
reliability
conformance to smth.(~ to standards)
durability
serviceability
toll free hot lines
perceived quality
kit (emergency repair ~, first aid ~, mending~)
Chapter 5 (33 entries)
The Role of Labor in Business
absenteeism, absentee
adversary, adversarial (relations, system)
charge smb. with smth.; be in charge of; take charge of; to charge for (delivery, a service); to charge a fee, interest, rent.
falter (economy is faltering, her voice faltered)
foster (a sense of community, higher marale); ~family, parents, child
launch (a product, a new magazine)
regard, with ~to (=regarding, concerning smt.)
seniority (5 years ~)
turnover, annual ~ of $2 bln., ~rose/fell; staff/labor ~.
to air complaints/grievances
to break ones neck/back
competitive edge
company town
to deal a blow/a double blow
hot seat
a piece of the action
to pool resources
jobholders meeting
peer review panel
Employee Involvement (EI) Program
ride exercise bicycles
day-care facilities
blue-chip (stock, company, investment)
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declining performance
to be headquartered in
major fuel
(the only means of transporting) bulk freight
the plant prospered
customer base
reach crisis proportions
recession (economy/industry was in ~, to recede)
to dismiss (smb. from a job, the class was dismissed early)
close down unprofitable plants
Chapter 6 (34 entries)
The Role of Government in Market Economies
assurance (to lack ~, complete~, written ~)
on the brink of smth. or doing smth.
evade (taxes, responsibility, questions)
generate (jobs, energy, income)
inflation (~ rate, high/low, ~rises/falls)
prevail, prevailing (price, conditions, attitudes)
reimburse (costs, expenses, ~smb. for smth.)
sanctuary (animal, wildlife ~, to seek political ~)
sector
stable, stability, stabilize, stabilization
(in)solvency, (in)solvent
to be subject to (control, change)
teeter, ~on the brink of bankruptcy
trigger (a response, a reaction, sales increase, a depression)
coup detat
bankruptcy, to go bankrupt, to declare oneself bankrupt
the market would be cleared
the broken line
government interference
lay off workers (end employment, esp. temporarily)
a sliding scale of payments
hourly wages/wages per hour
rent (pay ~, charge ~); to rent (a car, a flat/apartment)
rental (property, ~ agency)
revenues (tax ~, total ~)
value added tax
graduated/progressive income tax
sales tax
corporate taxes
tax deductions (receive ~), to be tax exempt
collect taxes, tax collector
before tax, after tax
to assign a weight
purchasing power
Chapter 7 (38 entries)
The Global Economy
keep smth. afloat
be beset by (criticism, money troubles))
calamitous, calamity
confront smb., smth.
confrontation with (police), violent ~, to avoid ~
default (on a payment, mortgage)
devalue (currency), devaluation
embrace (changes, a new concept/idea); ~ smb. (to hug)
innovate (ideas, methods, equipment), innovative (approach, manager)
innovations (technological ~, managerial~)
peril, to be in ~, perilous (a ~ journey)
prod smb. into doing smth.; to give smb. a prod (= to persuade, encourage)
rampant (growth, development); to ramp up (production) = to increase
retaliate against smb. for smth.. ~ by doing smth.; retaliation (for the arrest of terrorists)
retaliatory (measures, attacks)
retract (a statement)
retractable (fishing rod, a knife with a ~ blade)
stagnate, stagnant (economy, water, stagnation (in economy, in smbs career)
stoke up (inflation, economy; fears, public unrest)
unemployment rate
rate of inflation
International Monetary Fund (IMF)
Less Developed Countries (LDCs)
Gross National Product (GNP)
Gross Domestic Product (GDP)
austerity programs
average life expectancy
infant mortality rate
per (1000) live births
literacy rate
per capita
slump (in prices, profits, sales); economic ~
war-fare
well up
undersell
casual (atmosphere, interview, clothes; ~ and unskilled workforce)
casualties = killed or injured in an accident or military action (heavy ~)
DIY (~market), do- it- yourself, do-it-yourselfer
- Thomas Kral. Economic Considerations. English Trough Content: Applied Economics. English Language Programs Division, US Information Agency, Washington, D.C. 1996, 2006.
- Longman Exams Dictionary. Pearson/Longman. England, 2006.
- Macmillan English Dictionary for Advanced Learners. International Student Edition. Macmillan Publishers Limited. United Kingdom, 2006.
