PTE Economy & Work Vocabulary

Relating to government spending, taxation, and the management of public money.

“The government tightened fiscal policy to reduce the budget shortfall during the downturn.”

Collocations: fiscal policy, fiscal year

A period when economic activity declines and the economy shrinks for several months.

“Many firms postponed hiring until the economy emerged from the prolonged recession.”

Collocations: deep recession, enter a recession

Money put into an asset or project in the hope of earning a future profit.

“Sustained investment in renewable infrastructure is essential for long-term energy security.”

Collocations: foreign investment, attract investment

Relating to money or to the supply of money controlled by a central bank.

“The central bank adjusted monetary policy by raising interest rates to slow spending.”

Collocations: monetary policy, monetary value

A person who starts a business and takes on financial risk in pursuit of profit.

“The young entrepreneur secured funding to launch a platform connecting local farmers and buyers.”

Collocations: successful entrepreneur, budding entrepreneur

The combining of two companies into a single larger organisation.

“The proposed merger between the two airlines raised concerns about reduced competition.”

Collocations: proposed merger, corporate merger

An amount of something that is left over after needs have been met.

“The country exported its grain surplus to neighbouring markets at competitive prices.”

Collocations: trade surplus, budget surplus

A new business activity that involves risk but offers the chance of reward.

“Their joint venture combined local knowledge with international engineering expertise.”

Collocations: business venture, joint venture

Having a great deal of money and a comfortable, wealthy standard of living.

“Demand for private tutoring is highest among families in affluent urban districts.”

Collocations: affluent society, affluent neighbourhood

Careful with money and resources, spending only on what is genuinely needed.

“A frugal approach to public spending allowed the council to maintain essential services.”

Collocations: frugal lifestyle, remarkably frugal

The rate at which goods or services are produced relative to the effort or resources used.

“Automation significantly boosted productivity without increasing the size of the workforce.”

Collocations: boost productivity, labour productivity

The condition of people who want to work but cannot find a job.

“Rising unemployment placed considerable strain on the region's welfare system.”

Collocations: high unemployment, unemployment rate

The total income that a business or government receives from its activities.

“Advertising accounts for the majority of the platform's annual revenue.”

Collocations: generate revenue, tax revenue

Something that encourages a person or organisation to take a particular action.

“Tax breaks served as a powerful incentive for companies to invest in clean technology.”

Collocations: financial incentive, provide an incentive

Money paid by a government to support an industry or keep prices low.

“The agricultural subsidy helped small farmers compete against cheaper imported produce.”

Collocations: government subsidy, fuel subsidy

A basic raw material or product that can be bought and sold, such as oil or grain.

“Falling commodity prices reduced export earnings for resource-dependent economies.”

Collocations: commodity prices, global commodity

A person or group with an interest in or affected by the outcome of a project or organisation.

“The company consulted every stakeholder before finalising its restructuring plan.”

Collocations: key stakeholder, engage stakeholders

The amount by which spending exceeds income over a given period.

“The widening trade deficit reflected a sharp rise in imported manufactured goods.”

Collocations: budget deficit, reduce the deficit

Complete control of a market or product by a single company or group.

“Regulators intervened to prevent the firm from establishing a monopoly over online search.”

Collocations: natural monopoly, break up a monopoly

The practice of paying an outside company to perform work instead of doing it internally.

“Outsourcing customer support overseas lowered costs but raised concerns about service quality.”

Collocations: labour outsourcing, rely on outsourcing

Payment or reward given to someone for the work or service they provide.

“The report argued that fair remuneration improves both staff retention and morale.”

Collocations: adequate remuneration, remuneration package

Capable of working successfully or being carried out in practice.

“Solar power has become a commercially viable alternative to fossil fuels in many regions.”

Collocations: commercially viable, viable option

Producing a large amount of money or profit.

“The firm expanded into the lucrative market for premium electric vehicles.”

Collocations: lucrative contract, highly lucrative