TOP 11 Economics Vocabulary

Useful words to speak about economics

1. Currency – the money that is used in a particular country at a particular time (валюта).
2. Bankrupt – having no money (банкрут)
3. Debt – an amount of money that you owe to (борг)
4. Deficit – an amount that is less than that is needed (дефіцит)
5. Demand – a need for something to be sold or supplied (попит)
6. Supply – an amount of something that is available for use (пропозиція)
7. Deregulation – the act of freeing from rules (дерегуляція)
8. Devaluation – an official lowering of a nation’s currency (девальвація)
9. Free Trade – international trade free of government interference (вільна торгівля)
10. GDP – the total market values of goods and services within a nation’s borders (ВВП)
11. Poverty Trap – a situation in which an increase in income results in a loss of benefits so that you are no better off (пастка бідності)