TOEFL · Social Sciences & Economy · Intermediate

• economy

  n. the system of money and trade in a place

  The national economy grew last year.

• inflation

  n. a general rise in prices over time

  Inflation made groceries more expensive.

• demand

  n. the desire of buyers for a product

  High demand raised the price of oil.

• supply

  n. the amount of goods available

  A large supply lowered the cost.

• investment

  n. money put in to earn more later

  The investment earned a good return.

• budget

  n. a plan for spending money

  The family kept a strict budget.

• wage

  n. money paid for work, often hourly

  The factory raised the workers' wage.

• labor

  n. physical or mental work

  The project required heavy labor.

• employment

  n. the state of having paid work

  Employment rose after the new factory opened.

• unemployment

  n. the state of having no job

  Unemployment fell during the boom.

• industry

  n. a branch of economic activity

  The car industry employs many people.

• resource

  n. a useful supply that can be used

  Oil is a valuable natural resource.

• consumer

  n. a person who buys goods to use

  Consumers prefer cheaper products.

• producer

  n. a person or firm that makes goods

  The producer sold goods abroad.

• competition

  n. rivalry between firms for customers

  Competition keeps prices low.

• supply chain

  n. the steps to make and deliver goods

  The supply chain was delayed by storms.

• revenue

  n. the total money a business takes in

  The store's revenue doubled this year.

• expense

  n. money spent for a purpose

  Travel is a large business expense.

• loan

  n. money borrowed that must be repaid

  She took a loan to start her shop.

• debt

  n. money that is owed to others

  The country struggled with heavy debt.

• poverty

  n. the state of being very poor

  Many families live in poverty.

• welfare

  n. help given to people in need

  Welfare programs support the elderly.

• policy

  n. a plan of action by a government

  The policy aimed to reduce poverty.

• democracy

  n. a system ruled by the people

  In a democracy, citizens elect leaders.

• authority

  n. the power to give orders

  The mayor has authority over the city.

• institution

  n. an established organization in society

  Schools are important social institutions.

• regulation

  n. a rule made by an authority

  Safety regulations protect workers.

• constitution

  n. the basic laws of a country

  The constitution protects free speech.

• republic

  n. a state where power lies with the people

  The republic held free elections.

• diplomacy

  n. the managing of relations between nations

  Diplomacy helped avoid the war.

• conflict

  n. a serious disagreement or fight

  The conflict lasted many years.

• negotiation

  n. discussion aimed at reaching agreement

  The negotiation ended in a deal.

• migration

  n. the movement of people to a new place

  Migration changed the city's makeup.

• demographic

  adj. relating to the structure of a population

  The town saw a demographic shift.

• urbanization

  n. the growth of cities

  Urbanization drew workers from farms.

• gender

  n. the social roles of men and women

  Gender roles vary across cultures.

• identity

  n. the qualities that define a person

  Language is part of cultural identity.

• status

  n. a person's rank in society

  Wealth often affects social status.

• hierarchy

  n. a system of ranks in a group

  The company has a strict hierarchy.

• norm

  n. a standard of expected behavior

  Politeness is a social norm.

• tradition

  n. a custom passed down over time

  The festival is a long tradition.

• custom

  n. a usual way of doing things

  Bowing is a custom in Japan.

• ritual

  n. a set of actions done in a fixed way

  The ceremony followed an old ritual.

• ethnic

  adj. relating to a cultural group

  The city has many ethnic groups.

• minority

  n. a smaller group within a society

  The law protects the minority.

• generation

  n. people born around the same time

  The younger generation uses new tools.

• individual

  n. a single person

  Each individual has unique needs.

• cooperation

  n. the act of working together

  Cooperation made the project succeed.

• participation

  n. the act of taking part

  Voter participation was very high.

• motivation

  n. the reason behind one's actions

  Money is not her only motivation.

• perception

  n. the way one understands something

  Perception of risk varies by person.

• cognition

  n. the mental process of knowing

  Sleep affects human cognition.

• stimulus

  n. something that causes a reaction

  A loud sound is a strong stimulus.

• response

  n. a reaction to something

  Her response was quick and calm.

• anxiety

  n. a feeling of worry or fear

  Exams often cause anxiety.

• stress

  n. mental or emotional pressure

  Too much work causes stress.

• trauma

  n. a deep emotional shock

  The accident left a lasting trauma.

• incentive

  n. something that encourages action

  A bonus is a strong incentive.

• trend

  n. a general direction of change

  A trend toward online shopping grew.

• factor

  n. one thing that affects a result

  Income is a key factor in health.

• impact

  n. a strong effect on something

  The crisis had a wide impact.

• outcome

  n. the final result of an event

  The outcome pleased everyone.

• evidence

  n. facts that prove something

  The study gave strong evidence.

• statistics

  n. numerical data about a subject

  The statistics showed a sharp rise.

• analysis

  n. a careful study of something

  The analysis revealed clear patterns.

• correlation

  n. a mutual link between two things

  There is a correlation between income and health.

• variable

  n. a factor that can change

  Age is an important variable.

• sample

  n. a small group used in a study

  The sample included many ages.

• assumption

  n. something believed without proof

  The plan rests on a false assumption.

• estimate

  n. a rough calculation of a value

  The estimate was close to the truth.

• distribution

  n. the way something is spread out

  The distribution of wealth is uneven.

• consumption

  n. the using up of goods or energy

  Energy consumption rose in winter.

• infrastructure

  n. the basic systems of a society

  Good infrastructure aids the economy.

• expansion

  n. the act of growing larger

  The firm planned a major expansion.

• recession

  n. a period of economic decline

  Jobs were lost during the recession.

• crisis

  n. a time of great danger or trouble

  The bank faced a financial crisis.

• reform

  n. a change made to improve something

  The reform improved public schools.

• regulate

  v. to control by rules

  The state regulates banks closely.

• distribute

  v. to give out among people

  They distribute food to the poor.

• allocate

  v. to give a share for a purpose

  The city allocates funds to schools.

• invest

  v. to put money in to gain more

  They invest in new technology.

• borrow

  v. to take and use temporarily

  She borrowed money from the bank.

• exchange

  v. to give one thing and get another

  Travelers exchange foreign money.

• acquire

  v. to gain or obtain something

  The firm acquired a smaller company.

• maintain

  v. to keep something the same

  They maintain a stable income.

• reduce

  v. to make smaller in amount

  The plan aims to reduce poverty.

• increase

  v. to make or become larger

  Wages increase with experience.

• influence

  v. to affect how something happens

  Media can influence public opinion.

• contribute

  v. to give to a common goal

  Many people contribute to charity.

• adapt

  v. to change to fit new conditions

  Firms must adapt to new markets.

• interact

  v. to act together with others

  People interact in many ways online.

• respond

  v. to react to something

  Voters responded to the new policy.

• significant

  adj. large enough to matter

  There was a significant rise in prices.

• financial

  adj. relating to money

  The firm faced financial trouble.

• political

  adj. relating to government and power

  The debate was highly political.

• economic

  adj. relating to the economy

  The reform had economic benefits.

• cultural

  adj. relating to culture

  The museum hosts cultural events.

• urban

  adj. relating to cities

  Urban areas are densely populated.

• rural

  adj. relating to the countryside

  Rural towns are losing people.

• stable

  adj. steady and not likely to change

  A stable economy attracts investment.

Related decks

• TOEFL · Arts & Humanities · Beginner

  English · 100 cards

• TOEFL · Arts & Humanities · Intermediate

  English · 100 cards

• TOEFL · Arts & Humanities · Advanced

  English · 100 cards

• TOEFL · Natural Sciences · Beginner

  English · 100 cards