5

Question 1

The total amount of money a company receives from sales during a specific period

Answer 1

Turnover

Question 2

To reduce activity or slow down growth, especially in the economy

Answer 2

To cool down

Question 3

A tax paid on the money a person earns from work or investments

Answer 3

Income tax

Question 4

To become smaller in size, amount, or value

Answer 4

To shrink

Question 5

A period of strong economic growth with high spending and production

Answer 5

Boom

Question 6

A tax paid directly to the government on income or wealth

Answer 6

Direct tax

Question 7

A period when business activity becomes much weaker

Answer 7

Slump

Question 8

The amount of income a person can earn before paying income tax

Answer 8

Personal allowance

Question 9

A period when the economy starts improving after being low

Answer 9

Upturn

Question 10

A tax included in the price of goods and services

Answer 10

Indirect tax

Question 11

A period of reduced economic activity when GDP falls for a sustained time

Answer 11

Recession

Question 12

A tax on goods produced within a country (alcohol, tobacco, etc.)

Answer 12

Excise duty

Question 13

The total value of goods and services produced in a country in one year

Answer 13

GDP

Question 14

The percentage of the workforce without a job but actively seeking work

Answer 14

Unemployment rate

Question 16

How do we call money paid to finance government spending?

Answer 16

Taxes

Question 17

How do we call repayments of money borrowed to buy a house or flat?

Answer 17

Mortgage repayments

Question 18

How do we call extra money given for meeting a target or for good financial results?

Answer 18

Bonus

Question 19

How do we call financial protection against medical expenses for sickness or accidental injuries?

Answer 19

Health insurance

Question 20

How do we call money paid by the government to unemployed and sick people?

Answer 20

Benefits / social benefits

Question 21

How do we call a financial plan showing how much money a person or organization expects to earn and spend?

Answer 21

Budget

Question 22

How do we call requests for the payment of money owed for services such as electricity, gas and telephone?

Answer 22

Bills / invoices

Question 23

What is GDP?

Answer 23

Gross Domestic Product (total value of goods & services produced in a country)

Question 24

Give the antonym of A PEAK.

Answer 24

A trough

Question 25

What is the formula of GDP?

Answer 25

C + I + G + (X − M)

Question 26

What does the first letter of GDP formula stand for?

Answer 26

C = Consumption

Question 27

Give the verb used at the beginning of a graph to denote a point in time.

Answer 27

Starts at

Question 28

What does the second letter of GDP formula stand for?

Answer 28

I = Investment

Question 29

What does the third letter of GDP formula stand for?

Answer 29

G = Government spending

Question 30

What is the opposite of the adverb SHARPLY?

Answer 30

Gently / gradually

Question 31

What do the last two letters of GDP formula stand for?

Answer 31

X = Exports, M = Imports

Question 32

How else is a zero called in decimals?

Answer 32

Nought

Question 33

What are ECONOMIC INDICATORS?

Answer 33

Statistics showing the state of the economy (inflation, GDP, unemployment, etc.)

Question 34

What is EXCHANGE RATE?

Answer 34

The value of one currency expressed in another

Question 35

Give at least 6 words that denote a SHARP INCREASE.

Answer 35

Soar, surge, jump, rocket, climb, shoot up

Question 36

How are people with no job called? (Give two words)

Answer 36

Unemployed, jobless

Question 37

Give the definition of the economic indicator “POPULATION”.

Answer 37

The number of people living in a country or region

Question 38

What is INTEREST RATE?

Answer 38

The cost of borrowing money, expressed as a percentage

Question 39

How do we call “the relation between imports and exports”?

Answer 39

Balance of trade

Question 40

What is a TRADE SURPLUS?

Answer 40

When exports exceed imports

Question 41

What is the antonym of a TRADE SURPLUS?

Answer 41

Trade deficit

Question 42

Give three synonyms for when employees lose their jobs.

Answer 42

Lay off, dismiss, fire

Question 43

What is INFLATION?

Answer 43

A general increase in prices over time

Question 44

What is the GROWTH RATE?

Answer 44

The rate at which an economy or variable increases over a period

Question 45

If a figure rises to a certain level and then stops rising, it…

Answer 45

Levels off

Question 46

What is HIGH FINANCE?

Answer 46

Large scale finance involving banks, investments, major corporations

Question 47

Give at least three words that denote a SHARP DROP.

Answer 47

Plunge, slump, fall, drop

Question 48

If something (e.g., economy) grows bigger, it…

Answer 48

Expands

Question 49

What are the most common ways of presenting figures? (4 ways)

Answer 49

Tables, charts, graphs, diagrams

Question 50

Money and support provided by the government to unemployed sick disabled or retired people

Answer 50

Social security

Question 51

Money needed for everyday life food housing transport etc

Answer 51

Living expenses

Question 52

A system that pays for medical treatment when you are sick or injured

Answer 52

Health insurance

Question 53

Money paid for a service such as school or bank services

Answer 53

Fees

Question 54

Money earned as a percentage of sales

Answer 54

Commission

Question 55

Documents showing how much you must pay for services like electricity water or internet

Answer 55

Bills

Question 56

A long term loan used to buy a house or apartment

Answer 56

Mortgage

Question 57

Money people and companies must pay to the government

Answer 57

Tax

Question 58

To collect or obtain money for a project or purpose

Answer 58

To raise finance

Question 59

Related to the economy

Answer 59

Economic

Question 60

Not wasting money or resources

Answer 60

Economical

Question 61

Study of the whole economy including GDP inflation unemployment

Answer 61

Macroeconomics

Question 62

Study of consumers firms and markets

Answer 62

Microeconomics

Question 63

Statistics showing the state of the economy

Answer 63

Economic indicators

Question 64

To be at a particular level

Answer 64

To stand at

Question 65

To change between a high and a low point

Answer 65

To fluctuate

Question 66

To rise extremely quickly

Answer 66

To skyrocket

Question 67

To stop rising or falling and remain stable

Answer 67

To level off

Question 68

To stay at the same level

Answer 68

To remain stable

Question 69

To fall very quickly and suddenly

Answer 69

To plummet

Question 70

To reach the lowest point

Answer 70

To hit a low

Question 71

To reach the highest point

Answer 71

To reach a peak

Question 72

The lowest point in a graph

Answer 72

Trough

Question 73

To stop falling and begin to rise

Answer 73

To bottom out

Question 74

Very big or sudden change

Answer 74

Dramatic

Question 75

Quick and significant change

Answer 75

Sharp

Question 76

Slow and steady change

Answer 76

Gradual

Question 77

Consistent regular change

Answer 77

Steady

Question 78

Small or minor change

Answer 78

Slight

Question 79

To increase three times

Answer 79

To triple

Question 80

Per person

Answer 80

Per capita

Question 81

A period of fast economic growth

Answer 81

Boom

Question 82

Total money received from activities such as sales or taxes

Answer 82

Revenues

Question 83

Amount of goods or services produced

Answer 83

Output

Question 84

No longer used because outdated or replaced

Answer 84

Obsolete

Question 85

Total value of goods and services produced in a country

Answer 85

GDP

Question 86

Spending by households

Answer 86

Consumption

Question 87

Spending by businesses

Answer 87

Investment

Question 88

Spending by the government

Answer 88

Government spending

Question 89

Exports minus imports

Answer 89

Net exports

Question 90

To grow

Answer 90

Expand

Question 91

To become smaller

Answer 91

Shrink

Question 92

Overall well being and performance of an economy

Answer 92

Economic health

Question 93

To measure or judge something

Answer 93

Gauge

Question 94

Level of wealth comfort goods and services available to people

Answer 94

Standard of living

Question 95

A decrease in the general price level

Answer 95

Deflation

Question 96

A mathematical statement showing equality

Answer 96

Equation

Question 97

Speed at which money circulates in the economy

Answer 97

Velocity

Question 98

Fixed set of products used to measure price changes

Answer 98

Basket of goods

Question 99

Price consumers pay in shops

Answer 99

Retail price

Question 100

Amount consumers are willing to buy at a given price

Answer 100

Demand

Question 101

Amount producers are willing to sell at a given price

Answer 101

Supply

Question 102

Make the buyer pay for an additional cost

Answer 102

Pass on cost