The Business Cycle
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Important Vocabulary

  • Expectations: Beliefs about what will happen in the future
  • Mortgage: Money borrowed to buy a house or flat or apartment
  • Rent: Money paid for the use of a house or flat owned by somebody else
  • Output: The amount of something produced by a company, a country, and so on
  • Investment: Spending on new machines, factories, and so on
  • Industrialists: Owners or managers of manufacturing companies
  • Consumption: Spending on goods and services
  • Lay off: To dismiss employees
  • Demographic: Concerning the number of births, deaths, population movements, and so on
  • Austerity: An absence of luxury and comfort


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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