INDICATORS 1 BUSINESS VOCABULARY IN USE

 

BUSINESS VOCABULARY IN USE 38. INDICATORS 1

 

A Finance and economics Finance is: • money provided or lent for a particular purpose • the management of money by countries, organizations or people. • the study of money management. • the study of how money works and is used. • calculations of whether a particular activity will be profitable. B Inflation and unemployment Inflation is rising prices, and the rate at which they are rising is the inflation rate. The related adjectives in inflationary. The unemployed are people without jobs in a particular area, country, etc. The level of unemployment is the number of people without a job. unemployed people are out of work, and are also referred to as jobless (adj.) or the jobless. C Trade The balance of payments is the difference between the money coming into a country and that going out. The trade balance is the difference between payments for imports (goods and services from abroad) and payments for exports (products and services sold abroad). When a country exports more than it imports, it has a trade surplus. When the opposite is the case, it has a trade deficit. The amount of this surplus of deficit is the trade gap. D Growth and GDP Economic output is the value of goods and services produced in a country or area. Gross domestic product or GDP is the value of all the goods and services produced in a particular country. EXERCISES 38.1 Complete these sentences with expressions from A opposite. 1. Eating pasta, potatoes and rice rather than meat and fish is ____________. 2. Buying your food at a small local shop rather than at a big supermarket is ____________. 3. Someone who arranges multibillion-dollar loans to governments works in ____________. 38.2 Complete what this reporter says about Paradiso’s economy with expressions from B and C opposite. Paradiso’s economic indicators are perfect. In the past, Paradiso imported more than it exported, and there was a (1) ______  ________: this (2) ______  ________ was very worrying. Now the country exports a lot of computer equipment, but still imports most of its food: the value of 38.3 Look at D opposite and complete the graph and the pie charts using the information below. The growth rate in Paradiso was around four per cent a year for ten years. A period of very fast growth followed, with the growth rate reaching 12 per cent ten years later. Growth  was nine per cent in the following three years, but fell to two per cent in in the year after that. It then increased steadily to reach five per cent two years ago, and has stayed at that level. 30 years ago, GDP in Paradiso came 70 per cent from agriculture, 20 per cent from industry and 10 per cent from services. At that time, GDP was US$1,000 per person in terms of today’s dollars

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