Wednesday Vocablary

Front 1

export

Back 1

noun [C or U]
a product that you sell in another country, or the business of sending goods to another country in order to sell them there

Front 2

import

Back 2

noun
1 [C usually plural] goods bought by one country from another

Front 3

Trade

Back 3

noun [U]
1 the activity of buying and selling, or exchanging, goods and/or services between people or countries

Front 4

unemployment

Back 4

1 the number of people who do not have a job which provides money:
2 the state of being unemployed

Front 5

inflation

Back 5

noun [U]
a general, continuous increase in prices

Front 6

productivity

Back 6

noun [U]
the rate at which a company or country makes goods, usually judged in connection with the number of people and the amount of materials necessary to produce the goods

Front 7

taxation

Back 7

noun [U]
the system of taxing people

Front 8

GDP

Back 8

noun [U]
SPECIALIZED ABBREVIATION FOR Gross Domestic Product: the total value of goods and services produced by a country in a year:

Front 9

per capita

Back 9

adverb, adjective FORMAL
If you state an amount per capita, you mean that amount for each person:

Front 10

revenue

Back 10

noun [U] (ALSO revenues)
the income that a government or company receives regularly

Front 11

income

Back 11

noun [C or U]
money that is earned from doing work or received from investments

Front 12

manufacture

Back 12

verb [T]
to produce goods in large numbers, usually in a factory using machines

Front 13

flexible

Back 13

adjective
able to bend or to be bent easily without breaking

Front 14

corrupt

Back 14

verb [T]
to make someone or something become dishonest or immoral

Front 15

invest

Back 15

verb [I or T]
to put money, effort, time etc. into something to make a profit or get an advantage

Front 16

cluster

Back 16

group noun [C]
a group of similar things that are close together, sometimes surrounding something

Front 17

recession

Back 17

noun [C or U]
a period when the economy of a country is not successful and conditions for business are bad

Front 18

privatisation

Back 18

controlled or paid for by a person or company and not by the government

Front 19

stablity

Back 19

noun [U]
when something is not likely to move or change