ECONOMIC TERMS
The money you earn from working, investments, or business.
income
A situation where things are uncertain or likely to change suddenly (especially in economy or politics).
instability
Rules made by governments or authorities to control industries or behavior.
regulations
Basic services such as water, electricity, and gas.
utilities
Used to compare two different things or sides.
versus
A general rise in prices over time, which reduces the value of money.
inflation
To unfairly use a situation or person for your own benefit.
take advantage (of)
A market situation where one company controls all or most of a product or service, limiting competition.
monopoly
To survive or manage with the money or resources you have.
get by
Sent goods or services to another country for sale.
exported
A period of economic decline, usually marked by job losses and lower production.
recession
A situation in which there is not enough of something.
shortage
An organization that protects workers' rights and tries to improve working conditions and pay.
trade union
A sudden and significant increase in prices.
hike (price hike)
A time of fast economic growth.
boom
A time of fast economic growth, with more jobs and spending.
boom
Suffering or death caused by a lack of food.
starvation
An economic system where prices are set by supply and demand without government control.
free market
To cause something (usually prices or costs) to rise.
push up
Matching or equal to something else (e.g., salaries increasing in line with inflation).
in line with
The amount of money needed to pay for basic needs like food, housing, and bills.
cost of living
A protest where workers stop working to demand better conditions or pay.
strike
A strong desire to have more wealth or power than is needed or fair.
greed
Situation where people are finding it increasingly difficult to earn enough money to cover their basic living expenses
pay crisis
The highest profits a company has ever made.
record profits