UNIT 8/9/10

8.1 overproduction /əʊvəprəˈdʌkʃən/ _______________ of Because of the

something means there is overproduction,
not enough demand for it the goods prices
and therefore there is too have to been
much of the goods or reduced
services in the market.
8.1 elasticity /ˌɛlæsˈtɪsɪti/ _______________ is the This data shows
change that occurs to one the relationship
economic variable due to between the
the effects of another elasticity and the
economic variable. optimal monopoly
price for Windows
8.1 break-even /breɪk-ˈiːvən/ A point at which revenue The experts
equals expenses. predict that the
firm will break
even at the
operating level
next year
8.1 surplus /ˈsɜːpləs/ A _____________ is amount The supermarket is
that is more than what is imports goods that
necessary or normal. is surplus to their
need
8.2 current liabilities /ˈkʌrənt ˌlaɪə __________ The financial
ˈbɪlɪtiz/ ______________ are debts report last month
that must be paid within one show that our
year. company's current
liabilities have
increased to nearly
VND10 billion
8.2 retained profit /rɪˈteɪnd ˈprɒfɪt/ _____________ After dividends
________________ is the were paid out, the
profit that is earned but not retained profit was
spent VND 10 billion
8.2 working capital /ˈwɜːkɪŋ ˈkæpɪtl/ _______________ In order to provide
________________ is our company's
current assets minus current working capital,
liabilities, which can be used we have to raise
in operations. $500k
8.2 capital reserves /ˈkæpɪtl rɪˈzɜːvz/ The portion of business The city has about
profits by capital retained $23 million in a
and added to equity. capital reserve
account
8.2 quick ratio /kwɪk ˈreɪʃɪəʊ/ A ____________ Two of the most
_______________ is a commonly used
measure of a company's liquidity ratios are
liquidity that compares the "Current Ratio"
current liabilities and current and the "Quick
assets. Ratio"
8.2 default (v) /dɪˈfɔːlt / To __________________ is People who
to fail to pay a loan. default on their
debt’s repayments
UNIT 8/9/10
8.2 depreciation (n) /dɪˌpriːʃɪˈeɪʃən/ _____________ is a
decrease in an asset's value
due to age or use
8.3 revenue /ˈrɛvɪnjuː/ ____________ is income
that a company receives
through normal business
operations such as the sale
of its product.
8.3 (profit) margin /(ˈprɒfɪt) A The company
ˈmɑːʤɪn/ _______________________
is the difference between
the selling price of
something and the amount
of money required for the
seller to make or buy it.
8.3 detract (v) /dɪˈtræktɪŋ/ To ______________ is to
subtract something from
something else.
8.3 gross profit /grəʊs ˈprɒfɪt/ ________________ is the
difference between total
income, or revenue, and the
costs of production, before
accounting for overhead and
other expenses.
8.3 cost of goods sold /kɒst ɒv gʊdz the total cost of
(COGS) səʊld/ merchandise sold during the
period
8.4 pricing policy /ˈpraɪsɪŋ ˈpɒlɪsi/ A _____________
_____________ is a standard
that a company uses to set
wholesale and retail prices.
may lose their car
The depreciation
of many currencies
in the world is the
result of covid 19
pandemic
Our company's
main revenue in
this year is from
selling our new
products
averages profit
margins of 30%
If you detract the
$100 for playing
and shopping, you
can live with that
salary
Gross profit for
first half year is
calculated about
$5m , through the
company's
outcome
statement
COGS for our new
productions
amounted to VND
450m
Our company's
marketing office
has introduced a
new pricing policy
for our new
products
UNIT 8/9/10
9.1 price stability /praɪs stəˈbɪlɪti/ ___________ ____________ is a The government try
situation when prices in an them best to
economy change little over time stabilize the price
9.1 fiat money /ˈfaɪæt ˈmʌni/ _____________ Legal coin money
_______________ is money that and fiat money are
is valuable exclusively because it the 2 main currency
is recognized by a government as which can be used
legal tender, and has no inherent by the government
value otherwise.
9.1 hyperinflatio /haɪpəɪnˈfleɪʃən/ ______________________ is Since the monthly
n (adj) inflation that occurs at an inflation in
extremely high rate, such as 50% Zimbabwe reached
a month or higher. to 600% in 2003 ,
there was a
hyperinflation in
this country
9.1 monetary /ˈmʌnɪtəri ɔː A __________ controls the The central bank is
authority ˈθɒrɪti/ supply of a certain currency. It the only place
can be one nation's central bank where has the
or control a currency for several monetary authority
nations.
9.1 monopoly (n) /məˈnɒpəli/ A _________________________ The USA
is the possession of complete government have to
control over a particular product do something to
or service by one individual or avoid Facebook's
company, which gives that entity monopoly on social
the power to regulate the price media
and supply of that product or
service
9.1 inflation (n) /ɪnˈfleɪʃən/ ______________________ is a The yearly inflation
rise in prices in an economy over in Vietnam
time and subsequent lowering of increased in 2.10%
the value of monetary units. compared to the
previous years
9.3 recession (n) /rɪˈsɛʃən/ A _______________ is a period Because of the
of general decline in activity recession , many
across the economy. company has been
affected seriously
9.3 boom (n) /buːm/ A ______ is a sudden rapid Because of the
growth, development, or covid 19 pandemic ,
progression. the insurance
business
experienced a boom
9.3 bubble (n) /ˈbʌbl/ A _________________ is an there is a housing
economic occurrence caused by bubble In property
the trade of products at an business in Hanoi
inflated price.
9.3 coincident /kəʊˈɪnsɪdənt A ____ is an indicator that varies There are some
indicators (n) ˈɪndɪkeɪtəz/ directly with the changing coincident
economy and gives information indicators such as
about the current economic industrial goods in
UNIT 8/9/10
standings. the market, the
employed rate and
trade sales
9.3 leading /liːdɪŋ A _______________ Through many
indicators ˈɪndɪkeɪtəz/ ______________ is something leading indicators,
that tells us about the changing many economics
activities in the economy before professor predict
the entire economy shifts. the change in next
few years
9.3 labor mobility /ˈleɪbə məʊ ______________ The mass
ˈbɪlɪti / _______________ is the ability industrialization and
of workers to move between urbanization in big
industries and locations to city resulted in
obtain better wages or better higher labour
working conditions. mobility
9.3 consumer /kənˈsjuːmə praɪs The _ is the measure of the Even though
price index ˈɪndɛks/ average change over time of Vietnam is affected
( CPI) prices paid for products and by the lockdown, its
goods by consumers. CPI increase to 105
points
9.3 housing starts /ˈhaʊzɪŋ stɑːts/ ________________ According to the
_________________ is the data at this month,
number of housing units that the housing starts
construction has begun on in a has increased 2.5%
given time period compared to
previous month
9.4 deflation (n) /dɪˈfleɪʃən/ __________________ is a Many goods price
decline in prices caused by a are now decreasing
decrease in economic activity because of the
deflation
9.4 gross private ____________ ___________ Gross private
investment ______________ is a investment is
measurement of investment that believed to be one
is used to calculate GDP. It of the most
includes business purchases for important indicator
equipment and inventory, as in calculating GPA
well as real estate purchases.
9.4 (fall into) /stæɡˈfleɪ.ʃən/ ____________________ is a During the covid 19
stagflation (n) situation in which an economy pandemic , many
experiences slow growth, high big economy in the
unemployment, and inflation all world has fell into
at once. stagflation
9.4 sluggish (adj) /ˈslʌgɪʃ/ If an economy is because of the
_________________, it is slow covid 19 pandemic,
moving and not growing quickly. the economy is
growing sluggish
9.5 rational (adj) /ˈræʃənl / If a decision is After all things has
__________________, it is made been done , we
by considering facts alone. need a rational
explanation
UNIT 8/9/10
9.5 public sector /pʌblɪk ˈsɛktə/ The _______________ Working in public
________________ is the part of sector is believed to
an economy that is run by the have stable salary
government.
9.5 invisible hand /ɪnˈvɪzəbl hænd/ The ______________ There is a belief that
______________ is used to an invisible hand
describe self-regulating market controlled the
forces. market
,guaranteeing that
everyone would
take advantages
9.5 incentive (n) /ɪnˈsɛntɪv/ An __________________ is a Every time we
reward or motivation to do complete the job ,
something. we will get some
incentives
9.5 stimulus (n) /ˈstɪmjʊləs/ A _________________ is an if the public
action intended to increase a transport' fare were
certain activity. decreased , it would
be a stimulus to
passengers
9.5 laissez faire /ˌleɪ.seɪˈfeər/ ______________ Many people think
(n) ______________ is a French that the
phrase that is used to describe government should
the belief that government follow the theory of
should not interfere with laissez-faire
economic matters.

10. life insurance /laɪf ɪnˈʃʊərəns Written contract to transfer risk Before sign any
1 policy ˈpɒlɪsi/ of premature death from one insurance contract ,
party to another; pays stated you should read life
sum upon death; creates instant insurance policies
estate. carefully
10. compensatio /kɒmpɛnˈseɪʃən/ something given to make up for After the accident,
1 n something else many people will be
given compensation
by the government
10. Disability /ˌdɪsəˈbɪlɪti ɪn A type of insurance paid to an People who suffer
1 Insurance ˈʃʊərəns/ individual if he/she is injured and injuries after the
is unable to work for a specified war can have
length of time disability insurance
10. claims /kleɪmz əˈʤʌstə/ a person whose job is to After the storm go
1 adjuster get information for through, the claims
an insurance company in order t adjusters have to
o decide how much money it calculate the
should pay for compensation for
a claim of damage or loss victims
10. policy holder /ˈpɒlɪsi ˈhəʊldə/ a person or group in whose The policy holders'
1 name an insurance policy is held. name is written in
the first page in
UNIT 8/9/10
contract
10. monetary /ˈmʌnɪtəri This check is fake
2 value ˈvæljuː/ therefore it don’t
have any monetary
value and cannot
change into cash