Here are some helpful business English terms relating to economics. Below you’ll find the term, word-type, pronunciation, definition, and how the word is used in a sentence.
| Word | Type | Pronunciation | Definition |
| economics | noun | /ˌikəˈnɑmɪks/ | study of the way goods are produced and sold |
| I have been studying the economics of the U.S.A. during the Great Depression. | |||
| appreciate | verb | /əˈpriʃiˌeɪt/ | when something goes up in value over time |
| The home appreciated 10% per year for the last 5 years. | |||
| depreciate | verb | /dɪˈpriʃiˌeɪt/ | when something goes down in value over time |
| A new car’s value depreciates as soon as you drive it off the car lot. | |||
| goods | noun | /ɡʊdz/ | things that are produced for sale |
| The country produced fewer goods in 2019 than it did in 2018. | |||
| service | noun | /ˈsɜrvɪs/ | work or help provided for sale |
| Service-based industries suffered tremendously due to Covid-19. | |||
| budget | noun | /ˈbʌdʒət/ | how much is allocated to be spent on something |
| The country spends 10% of its overall budget on the military. | |||
| consumer | noun | /kənˈsumər/ | someone who buys goods and services |
| Consumer demand for new cars has dropped significantly this year. | |||
| capital | noun | /ˈkæpɪt(ə)l/ | money you use to start a business or invest in your business to make more money |
| We raised capital in order to start our new business. | |||
| trade deficit | noun | /treɪd ˈdefəsɪt/ | when a country buys more things from other countries than it sells to them |
| The United States has a trade deficit with China. | |||
| recession | noun | /rɪˈseʃ(ə)n/ | a period of time with very little economic activity, high unemployment, and poverty |
| Experts are concerned about a possible recession. | |||
| inflation | noun | /ɪnˈfleɪʃ(ə)n/ | when prices increase causing money to be less valuable |
| Brazil is suffering from a period of high inflation. | |||
| deflation | noun | /dɪˈfleɪʃ(ə)n/ | general reduction of prices in an economy |
| There has been a deflation of property prices. | |||
| quota | noun | /ˈkwoʊtə/ | an amount of something that someone is allowed to have or do |
| The state imposed strict quotas on hunting wild animals. | |||
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