L1 100 Eco Words - FIRST 10 WORDS

A written statement showing the value of a company at a particular time is a:

• bailout

• balance sheet

• budget deficit/surplus

• borrower

A group of people or companies who all agree to sell something at the same price so that they can all make profits without competing with one another is a:

• borrower

• commodity

• cartel

• benefit

To receive and use something that belongs to someone else, and promise to give it back to them later is to:

• commodify

• benefit

• bailout

• borrow

Something such as money or property that a person or company owns is or are:

• assets

• collateral

• commodities

• bailouts

Property that you agree to give to a bank if you fail to pay back money that you have borrowed is

• booms/recessions

• a bailout

• collateral

• cartel

A situation in which a country's economy is in a period of success or a period of failure is called:

• commodities

• booms/recessions

• a bailout

• budget deficit/surplus

Something that can be bought and sold, especially a basic food product or fuel is called:

• a commodity

• a bailout

• collateral

• an asset

A situation where spending exceeds income or vice versa (often government related) is known as:

• balance sheets

• booms/recessions

• assets

• budget deficit/surplus

Money that someone gives or lends to a person or organization with financial problems is called:

• a balance sheet

• a bailout

• an asset

• booms/recessions

An advantage you get from a situation is a:

• balance sheet

• benefit

• commodity

• borrower