ECONOMICS

IELTS Speaking (Ariel Tsai)

Vocabulary topic Economy IELTS
booming/ strong/ robust economy： a strong, developing economy
The government's policies have contributed to the development of a robust economy, fostering growth and
stability in various sectors.

The country's robust economy is attracting foreign investors and fostering job creation domestically.

fragile/ stagnant/ weak economy： weak, stagnant economy

emerging industry 新興產業
Investors are eagerly eyeing the potential of the emerging industry, anticipating significant growth and inno-
vation in the coming years.

AI healthcare (healthcare system using artificial intelligence)

Recession (noun) 經濟衰退
The country experienced a severe recession in 2008, leading to widespread job losses and economic hardship
for many families.

Inflation (noun)： to curb inflation： control inflation

The government is considering implementing policies to curb inflation, such as reducing public spending and
increasing interest rates.

economic growth
The implementation of new economic policies has led to significant economic growth, resulting in job cre-
ation and increased prosperity for the nation.

public spending (n)

The government plans to increase public spending on education and healthcare to improve public services
and enhance the quality of life for citizens.

allocate budget to sth 分配預算

The government plans to allocate budget to infrastructure development projects in order to improve trans-
portation and connectivity across the region.
The government should allocate more national budget to education and healthcare.

to levy a tax 徵稅
The government decided to levy a tax on luxury goods in order to generate additional revenue for public ser-
vices and infrastructure projects.

tax evasion 逃稅
Tax evasion is considered a serious offense and can result in severe penalties, including fines and imprison-
ment, for those found guilty.

taxpayer
Every citizen who earns income is considered a taxpayer and is responsible for filing their taxes accurately
and on time.
Ａ lot of people who are employed and earn money in these industries are also taxpayers which all go back
into the economy.

rising unemployment
The pandemic has led to rising unemployment rates as many businesses struggled to stay afloat amidst lock-
downs and restrictions.
 ECONOMICS

cash flow
The company's cash flow has improved significantly since implementing cost-cutting measures and diversi-
fying revenue streams.
I guess for any strong economy, it should be a balance between saving and earning money. If we only keep
money, the economy won't develop because there is no cash flow between traders and businesses

Macroeconomic (adj) /Macroeconomics (noun)宏觀經濟

The government strategy is to maintain stable macroeconomic factors. 穩定的經濟因素
Macroeconomic indicators 總體經濟指標

Market economy (noun)

The company has played a leading role in helping to educate managers from the emerging market economies
of Eastern Europe.
A market economy operates based on the principles of private ownership, competition, and free trade, allow-
ing businesses to thrive and consumers to have choices in the marketplace.

Monopoly (noun)壟斷 məˈnäpəlē

There are laws to stop companies becoming monopolies.
His likely motive was to protect his regional monopoly on furs.

Predatory pricing (noun)： The practice of a company selling its goods at such low prices that other compa-
nies can no longer compete. 掠奪性訂價
The airline has reduced its prices so sharply that it has been accused of predatory pricing.

Privatisation (noun)： The act of selling a business or an industry so that it is no longer owned by the gov-
ernment 私有化
There were afraid that privatisation would lead to job losses.

Recession (noun)
Many economists are worried that Covid 19 could cause a deep financial recession.

Recovery (noun)
The government is forecasting an economic recovery.

Revenue (noun)收入
The government may face a shortfall in tax revenue in the future.

Risk (noun)
With five previous claims, he’s now a bad insurance risk.

Shares (noun)股份
The company purchased 1.5 million shares of the stock last week.

The public sector (noun)： The part of a country's economy that is owned or controlled by the government
公共部門
Jobs in the public sector can be more stable than those in the private sector.

The private sector (noun)： A part of a country's economy that is not under direct government control
The private sector runs the vast majority of rail services in the UK.

Stock exchange (noun)： Where shares in companies are bought and sold. 證券交易所
The London Stock Exchange is one of the most famous in the world.
 ECONOMICS

Stock market (noun)： A place where businesses buy and sell shares in companies
The stock market crash of 2008 was a very tough time for banks and the financial markets.

Supply and demand (noun)

Oil prices should be set by supply and demand, and not artificially regulated.

Takeover (noun)： An act of taking control of a company by purchasing most of its shares.
The attempted takeover of the company was stopped by the competition commission.

Tariff (noun)： Tax paid on goods imported or exported by a country

A general tariff was imposed on foreign imports.
普通關稅

Tax-free (adj)
The country created a tax-free allowance for imports coming into the country.

Distribution (the way that something is shared or exists, the act of delivering something to people)財富分配
it is impossible to achieve a fair distribution of wealth/income.

Circulation (the passing and spreading of something)

One indicator of economic development is the circulation of money in the country.
We can use the currency circulation condition to assess the economic situation of a country.

Tariff (a tax that is paid on goods coming into or going out of the country)
To get revenge, the US imposed an extremely high tariffs on Chinese imports

Subsidy (money that a government or an organization pays to reduce production costs and keep the
price low)補貼
In order to unlock the tourism potential of this area, the locals and tourism companies need to receive huge
subsidies from the government.

Outsource： to arrange for someone outside the company to do work or provide goods for the company)外
包
Many IT companies outsource product manufacturing in Asian countries.

Venture (noun) (a business project or activity, especially one that involves taking risks)
Vietnamese young people become more and more innovative, embarking on different types of business ven-
tures. 商業活動 /企業

Have liability for sth： to have legal responsibility for sth

The corporation has liability for the environmental degradation of the surroundings
 ECONOMICS

1. What is economics?
2. Are you interested in economics?
3. How important is economics?

4. Do you think economics is a good subject to study?

5. How is the economy in your country?
6. What are the biggest economic problems in your country?
7. How is economics different under socialist and capitalist sys-
tems?

8. What was the last thing you read or heard about economics?
9. What do you think will happen to the world economy this year?
10. How can young people learn to manage their financial affairs?
11. What is the most important aspect of your national economy?

12. What do people in your country save money for?

Describe an economic risk. You should say:

What it was like

Where it took place
When it took place
and explain your opinion of it

13. Describe a method that helps you to save money.

You should say:
What it is
How long have you been following it
Whether it is a common method to save money