In IELTS students are evaluated on various factors including grammar, vocabulary, and fluency. All four sections Listening, Writing, Reading, and Speaking in IELTS are used to evaluate candidates’ performance where vocabulary plays an important part. In this blog, we have added words related to Business and Money IELTS Vocabulary to help candidates.
You need to show your finest vocabulary skills in the two sections in particular that is writing and speaking because in these sections almost 25 percent of your marks are dependent on your vocabulary. While writing if use new and advanced words, it will make your content more interesting.
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Importance of Business and Money IELTS Vocabulary
Knowing a long list of words is useless if they are not relevant. You also need to understand the context of the words you are learning. It is only beneficial to learn new words when you know where and how to apply them. There are a few important topics that appears frequently in the IELTS exam, one being Money and Business.
It is very important to polish your vocabulary related to Money and Business to get a good score band in the IELTS Speaking and Writing section. Answers with relevant words, look more presentable and it increases the chance of getting a good score. Here are some terms related to Money and business to help you showcase your extensive vocabulary skills in the IELTS exam.
Must Read: Tips to Improve Your Vocabulary For Best PTE Score
Below we have mentioned some terms with meanings related to Money
- Bill – Money spend on goods and services fr ex Restaurant bill
- Expense- Cost needed to spend
- Expenditure- Spending money
- Fee Payment- Made for services such as Hospital, Schools
- Income- Money earned from investment or work
- Passive Income- Money earned from investments
- Salary- Money paid by employer/company to employees for work
- Borrow Lending- money which will be returned
- Balance- Credit minus Debit
- Earn- To occupy an activity where you receive money in exchange
- Lend- To provide someone with money where they promise to return
- Cashier- Bank Employee who pays and receives money
- Currency- Money used by a nation
- Debit- Amount deducted from your bank account
- Withdraw- To take out money from an ATM
- Statement- Transaction record of your account
Below we have mentioned some terms with meanings related to Finance.
- Revenue- Income generated by a business
- Loss-when the expenditure is more than the income generated
- Profit-when the expenditure is less than the money earned
- Invest- Putting money to gain profit
- Payoff- Paying Debt
- Interest- A percentage that gets added to the borrowed money, which the lender has to pay afterwards.
- Cashflow- Difference between cash earning and cash outflow for fixed and working capital.
- Credit – Amount added t your bank account
- Loan- Money borrowed from the bank
- Credit Card- A card used for payment, the amount is charged from your credit line
- Debit Card- A card used for payment, the amount is directly deducted from your bank account
- Branch- local office of a bank
- Pension- Payment that a retired person receives
- Cheque- Written authorization to transfer the amount mentioned into someone’s account
- Deposit- An amount of money paid to the bank
Below we have mentioned some terms with meanings related to Business
- Mercantile – Related to commercial affairs and trade
- Trade- exchanging of goods and services between nations
- Commerce- Selling and Buying of services and goods.
- Transaction- Process of credit or debit
- Dealing- Business relations
- Patronage- Support from a patron
- Objective- What is to be achieved
- Startup- A new business
- Appointment- A work-related formal schedule to meet someone
- Consolidate- To compile things
- Enterprise- A business
- Market- A particular area or group that may buy your services and products
- Commodity- A useful thing
- Operational- Related to equipment, Machines and functioning of the business.
- Vested Interest- Something that you wish to happen as it will give you profit.
- Transact- To perform a business activity
- Intangible Asset- A not physical yet valuable asset
- Amortizable- Business asset or expense.
Tips to Improve Your Vocabulary
After we completed our schooling, we don’t spend time improving our vocabulary, but we can pick up where we left off, here are some tips to improve and enhance our vocabulary.
- Build a Reading Habit- Read newspapers, magazines, and articles that are reliable.
- Play Word Games- Download some word puzzle games and crosswords on your phone and play them in your free time.
- Writing Habit- Create flashcards and write down the words you are learning, and revise them the next day.
- Use New Words in Conversation- Try to use the words you are learning daily in your daily conversations.
Download some word puzzle games and crosswords on your phone and play in your free time. This is a great way to polish your vocabulary.
You need to show your finest vocabulary skills in the two sections in particular that is writing and speaking because in these sections almost 25 percent of your marks are dependent on your vocabulary.
Bill, Expense, Fee Payment, Currency, and Cashier are some terms that you should know. Refer to the list mentioned in the article above to know more.
Hope the information mentioned above in the blog is useful for the readers. Now that you have learned new words, use them on exam day to ace your IELTS score.
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