Economic Terminology

adverb modifies a verb, adjective, or another adverb, indicating manner, degree, or frequency

• The project was badly managed, resulting in significant delays.
• I badly need a vacation after this hectic week.
• I messed up badly on that test.
• His heart was badly broken after the breakup.

noun a sale of goods, typically for charitable purposes

• The bazaar was bustling with vendors selling a variety of goods.
• Let's check out the bazaar this weekend, they always have cool stuff.
• I heard the bazaar is lit, we should definitely go.
• The marketplace was a bazaar of ideas, with people exchanging thoughts and opinions freely.

noun a deep, resonant sound

verb to make a deep, resonant sound

interjection used to represent the sound of an explosion or sudden loud noise

• The sudden boom in the stock market caught many investors by surprise.
• When the DJ played his favorite song, he shouted 'boom!' and started dancing.
• She dropped the mic after her performance and said, 'Boom, I nailed it!'
• With the new marketing strategy, the company experienced a boom in sales.

noun the act of earning money to support oneself or one's family

• She took on the role of breadwinning for her family after her husband lost his job.
• He's been breadwinning for his siblings ever since their parents passed away.
• She's been out there breadwinning like a boss.
• In the world of competitive sports, being the breadwinner means consistently winning tournaments and bringing in the most prize money.

verb past tense of the verb 'break'; to separate into parts with suddenness or violence

adjective having been fractured or damaged; having little or no money

• The company went bankrupt and broke due to mismanagement.
• I accidentally broke my phone when I dropped it.
• I can't believe I broke my diet and ate that whole pizza.
• After the breakup, she felt like her heart was broke in two.

noun a failure or collapse

verb to catch someone in the act of doing something wrong

• The police conducted a raid and managed to bust the illegal gambling operation.
• I heard the cops are going to bust the party tonight.
• I can't believe you got busted for sneaking into the concert!
• She worked so hard to build her business, only to see it all go bust in the end.

noun a domestic fowl kept for its eggs or meat, especially a young one

adjective cowardly or fearful

• The chicken was marinated in a blend of herbs and spices before being roasted to perfection.
• Let's grab some fried chicken for lunch today!
• I can't believe she chickened out of skydiving at the last minute.
• She's always been the mother hen of the group, looking out for everyone like a chicken protecting her chicks.

verb to release air or gas from something, causing it to become smaller or less inflated

• The air pressure in the tire gradually began to deflate, causing the car to ride unevenly.
• I accidentally punctured the balloon and watched it slowly deflate.
• She was so embarrassed that her ego completely deflated after the rejection.
• The team's morale began to deflate after losing several games in a row.

verb to have given food to someone or something

adjective past tense of the verb 'feed', meaning having been given food

• The animals on the farm are fed twice a day with a balanced diet.
• I always make sure my dog is fed before I eat my own meals.
• I'm so hungry, I need to get fed ASAP.
• The media fed false information to the public, causing widespread panic.

noun Physical products that are bought and sold

adjective Describing something that is of high quality or beneficial

• The company specializes in importing and exporting luxury goods.
• I love shopping for goods at that store, they always have great deals.
• I scored some sick goods at the thrift shop today.
• Education is the key to unlocking the goods of the mind.

noun a general increase in prices and fall in the purchasing value of money

• The central bank is closely monitoring the inflation rate to ensure economic stability.
• I heard prices are going up because of inflation.
• Inflation is killing my wallet, everything is so expensive now.
• Inflation in the housing market is like a balloon slowly expanding, ready to burst at any moment.

noun a deficiency or shortage of something

verb to be without or deficient in something

• The lack of funding has hindered the progress of the research project.
• I can't believe the lack of snacks in the break room today.
• There's a serious lack of chill in that guy.
• Her constant need for attention stems from a lack of love in her childhood.

adjective comparative form of the adjective 'little', used to describe a smaller amount or degree

adverb used to compare two things and show that the first one is smaller or of a lower degree than the second one

• The new regulations aim to promote the use of public transportation and reduce the number of cars on the road, resulting in less traffic congestion.
• If you eat less junk food, you'll start feeling more energetic and healthy.
• I'm trying to spend less time on my phone and more time enjoying the real world.
• She felt less burdened after finally letting go of the past and moving forward with a clean slate.

noun a means of supporting oneself; a way of making a living

• The drought has severely impacted the farmers' livelihood in the region.
• The farmers are struggling to make ends meet due to the lack of rain affecting their livelihood.
• The gig economy has become a popular way for people to supplement their livelihood.
• Her passion for art became her livelihood, sustaining her both financially and emotionally.

noun a period of time that is considered to be fairly long

adjective measuring a great distance from end to end

• It has been a long time since we last met for a business meeting.
• I haven't seen you in a long time, we should catch up soon!
• Dude, it's been a long time since we hung out together.
• The old building had been standing there for a long time, witnessing many changes in the city.

adjective minimal in importance or significance

• The company decided to cut costs by reducing its marginal expenses.
• I only have a marginal interest in that topic.
• She's just a marginal player in the industry.
• His influence on the team is only marginal at best.

noun a means by which goods or services are exchanged, typically one that is widely accepted and used

• A medium of exchange is any item or verifiable record that is widely accepted in exchange for goods and services.
• Cash is the most common medium of exchange for everyday transactions.
• I'll trade you my medium of exchange for that cool t-shirt.
• Time is often considered a medium of exchange, as we trade our time for money or experiences.

noun a gradual decline or decrease

preposition indicating the location or position of something

• The popularity of traditional media is on the wane as digital platforms continue to rise.
• His interest in video games seems to be on the wane lately.
• I heard that their relationship is on the wane, they hardly spend time together anymore.
• The power of the dictator is on the wane as the people start to rise up against him.

noun a process of making up for a deficiency in one aspect of a person's life by emphasizing or exaggerating a feature in another aspect

• The employee's overcompensation for his mistake led to further issues within the project.
• She always goes overboard with her overcompensation when trying to make up for something.
• He's such a try-hard, always doing way too much overcompensation to impress others.
• The politician's promises were seen as overcompensation for their lack of actual achievements.

verb to estimate (something) too highly or too much

• The company overestimated the demand for their new product, resulting in excess inventory.
• I think we overestimated how much food we needed for the party.
• We totally overestimated how cool that concert was going to be.
• She overestimated her ability to handle the stress of the new job.

noun a main or important element of something

adjective main or important in terms of use or function

• Rice is a staple food in many Asian countries.
• Pasta is a staple in our household because it's quick and easy to make.
• Avocado toast has become a staple brunch option for millennials.
• Education is often seen as a staple for success in today's society.

noun a gift, declaration, or other acknowledgment of gratitude, respect, or admiration

• The museum organized a tribute to the famous artist, showcasing his most iconic works.
• We all pitched in to create a tribute video for our friend's birthday.
• The concert was a tribute to all the classic rock bands of the 70s.
• Her success in the competition was a tribute to her hard work and dedication.

noun a person who has not washed or cleaned themselves

adjective describing something that has not been cleaned or washed

• The unwashed dishes piled up in the sink.
• I can't believe you left the unwashed laundry on the floor.
• The unwashed hair look is in right now.
• His unwashed conscience weighed heavily on him.

noun an object that has no use or value to its owner but may have value to others

• The company decided to sell off the white elephant property that was draining their resources.
• That old mansion is a total white elephant - no one wants to buy it.
• I heard that car is a real white elephant, always breaking down.
• Her collection of ceramic frogs is a real white elephant in the room.

noun A drop in the bucket - an idiom meaning a very small or insignificant amount compared to what is needed or expected

• The donation we received was just a drop in the bucket compared to what we need for the project.
• Your contribution is appreciated, but it's only a drop in the bucket for our fundraising goal.
• Throwing a few bucks in the collection jar is just a drop in the bucket for the charity.
• In the grand scheme of things, his efforts to help were just a drop in the bucket.

adjective describing something related to economics or being economical in nature

• The government is implementing new policies to address the economicky challenges faced by the country.
• I'm not sure how to fix this economicky situation we're in.
• This whole economicky mess is really stressing me out.
• Her mind was like a puzzle, trying to make sense of the economicky pieces.

noun A term used to describe the economic impact of policies implemented by the Trump administration, particularly in relation to inflation.

• Economists are concerned about the potential impact of Trumpflation on the global economy.
• People are worried about how Trumpflation might affect their wallets.
• I heard Trumpflation is causing prices to go through the roof!
• The looming threat of Trumpflation is like a dark cloud hanging over the financial markets.

noun a portmanteau of 'agriculture' and 'inflation', referring to the increase in the prices of agricultural products

• The rise in food prices due to increased demand and supply chain disruptions led to agflation in the agricultural sector.
• Hey, have you noticed how expensive groceries have become? It's all because of agflation in the farming industry.
• Man, these farmers are really feeling the pinch with all this agflation going on.
• Just like a balloon slowly inflating, agflation is causing prices to rise steadily in the agricultural market.

noun A combination of the noun 'fiscal' (related to government revenue and spending) and the noun 'cliff' (a steep drop or decline), used metaphorically to describe a sudden and severe financial crisis.

• The country faced a looming fiscal cliff as the deadline for budget negotiations approached.
• I heard we might go over the fiscal cliff if they don't figure out a budget deal soon.
• We're on track to drive off the fiscal cliff if Congress doesn't get its act together.
• Their reckless spending habits are leading them straight towards a fiscal cliff.

adjective relating to or characteristic of a person who is very interested in technical details, especially in political and economic theory

• The academic conference was filled with wonkish presentations on economic policy.
• My wonkish friend loves to debate about politics and government.
• I don't understand all that wonkish jargon they're using in the meeting.
• Her wonkish obsession with data analysis sometimes gets in the way of seeing the bigger picture.

noun A punch or blow delivered with a circular motion

adjective Shaped like a circle or sphere

• The round pound was used as currency in the United Kingdom before it was replaced by the new coin.
• I found a round pound in my old piggy bank from when I was a kid.
• I can't believe that store still accepts round pounds, they're so outdated.
• She always carries a round pound in her pocket for good luck.