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.
