Keynesianism and Monetarism
Courtesy/ free pik

Important Vocabulary

  • Supply: The willingness and ability to offer goods or services for sale
  • Demand: The willingness and ability of consumers to purchase goods and services
  • Market forces: Supply and demand
  • Equilibrium: A state of balance, for example when supply meets demand
  • Fiscal policy: Government measures concerning taxation, public expenditure, and so on
  • Monetary supply: Government or central bank measures concerning the rate of growth of the money supply (the amount of money in circulation)


Matching up the Words Into Pairs That Mean the Same

  • flexible – variable
  • error – mistake
  • companies – firms
  • costs – expenses
  • excess – surplus
  • output – production
  • expenditure – spending
  • boost – stimulate
  • increase – raise
  • lower – reduce


Matching up the Words Into Pairs of Opposites

  • contraction – growth
  • boom – depression
  • flexible – rigid
  • buoyant – sluggish
  • cut – stimulate
  • deflate – increase
  • demand – supply
  • consuming – saving

Extracted From

MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (2nd ed.). Cambridge University Press.

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