Shownotes Transcript
Support the Podcast and Join my Patreon HERE -- https://www.patreon.com/thinkinginenglish)
CLICK HERE TO DONATE OR SUPPORT THE PODCAST!!!! - https://thinkinginenglish.blog/donate-and-support/)
Across the world, our economies are struggling with inflation, soaring energy prices, and the impact of Russia’s war in Ukraine! It is likely the many countries will enter a recession. But… what exactly is a recession? What causes recession? And how can we reverse a shrinking economy? Let’s answer these questions today, while learning some useful economic vocabulary!
You may also like...
166. Afghanistan: One Year Later! (English Vocabulary Lesson))
165. Why is Ireland Divided? (English Vocabulary Lesson))
164. What is Happening in Taiwan? (English Vocabulary Lesson))
163. Are Dress Codes a Good Thing? (English Vocabulary Lesson))
INSTAGRAM - __thinkinginenglishpodcast (https://www.instagram.com/thinkinginenglishpodcast/) __)
Blog - thinkinginenglish.blog)
Vocabulary List
Market (n) – is the business or trade in a particular type of goods or services
The job market is strong right now
To shrink (v) – to become smaller, or to make something smaller
The company’s profits have shrunk from $10 million dollars last year, to just $2 million this year
Decline (n) – when something becomes less in amount, importance, quality, or strength
There is a decline in the number of unemployed people this month
Quarter (n) – one of four periods of time into which a year is divided for financial calculations
I pay my rent every quarter
Holistic (adj) – dealing with or treating the whole of something or someone and not just a part
My doctor takes a holistic approach to disease
Bubble (n) – a temporary period of very successful economic performance in a particular country or sector, often followed by sudden failure
There are worries that the current housing bubble may soon burst
Inflation (n) – a general, continuous increase in prices
Inflation in the UK has now reached 10%
Deficit (n) – the total amount by which money spent is more than money received
The country’s deficit is around $500 million
Support this podcast: https://podcasters.spotify.com/pod/show/thinking-english/support)
Learn more about your ad choices. Visit megaphone.fm/adchoices)