Academic Words in Use · Set 2: Money and the Economy
B2 · 10 words · 25 questions · about 25 minutes · Try First · Meet the Words · Meaning and Use · Forms and Partners · Use It Again
How it works. Each set teaches ten words from the Academic Word List, the words that appear again and again in textbooks, lectures and reports in every subject. You try five of the words first, meet all ten in a short text, and then practice three things that knowing a word really means: what it means, which form to use, and which words go with it. At the end you meet the first five words again in a new text and see how far you have come. Press the Check button at the end of each part to see why every choice is right or wrong.
What do you already know?
Quick recall. Before you start, say aloud what these words from the last set mean: method, significant, assume. If one has gone, look back at that set’s word table.
Choose the best meaning for each word in bold. It is fine to guess. You will meet these five words again at the end.
Ten words in one text
This set’s words: economy · finance · income · export · sector · labor · benefit · percent · estimate · distribute
These ten words help you read and talk about money at the level of a whole country: where it comes from, who earns it, and how it is shared.
Tap or click a word with a dotted line to see its meaning below the text.
One Crop, One Problem
1Imagine a small island country whose economy depends on one product: coffee. Farmers grow it, ships carry it abroad, and the export of coffee brings in most of the country’s foreign money.
2This year the world price of coffee has fallen by twenty percent. Farm income has dropped, and the government estimates that one family in five can no longer cover its basic costs. Coffee farming also employs a large share of the country’s labor force, so the problem reaches every village.
3The government has two choices. It can borrow money to finance direct payments to farmers. This would benefit families immediately, but the debt must be repaid. Or it can invest in a new sector, such as tourism or software, so that the country depends less on one crop. That may help more in the long run, but it will take years.
4Whatever it chooses, the government must decide how to distribute limited money fairly: among regions, between farmers and city workers, and between today’s needs and tomorrow’s.
Word table
A word is easier to remember with its family and its partners. Read the table once now. You may look back at it during Parts 3 and 4.
| Word | Family | Common partners |
|---|---|---|
| economy n. | economic (adj.) · economics (n.) · economist (n.) · economical (adj.) | a strong / weak economy · the global economy |
| finance v., n. | financial (adj.) · financially (adv.) | finance a project · public finance |
| income n. | — | a low / high income · earn an income · income tax |
| export n., v. | exporter (n.) | export goods to · a major export |
| sector n. | — | the public / private sector · the service sector |
| labor n. | laborer (n.) | the labor force · the labor market · labor costs |
| benefit v., n. | beneficial (adj.) · beneficiary (n.) | benefit from · bring benefits · for the benefit of |
| percent n. | percentage (n.) | twenty percent of · rise / fall by ten percent |
| estimate v., n. | estimation (n.) · overestimate, underestimate (v.) | estimate that · a rough estimate |
| distribute v. | distribution (n.) · distributor (n.) · redistribute (v.) | distribute food / money to · evenly distributed |
What the words mean in the text
Look back at the text as often as you like.
Which sentence uses the word correctly?
Only one sentence in each group uses the word in a way that makes sense.
Choose the right form
All four choices belong to the same word family. Only one fits the sentence.
Choose the natural partner
Choose the word that usually goes with the word in bold.
Same words, new text
The five words from Part 1 are missing from this report. Read the whole text first, then choose the word for each gap.
A fishing town built a small factory to freeze its catch. Before, the fishers had to sell everything the same day at low prices. Now the town can (21) ____ frozen fish to three neighboring countries. Officials (22) ____ that sales abroad will double within two years. The average family (23) ____ has already risen. Not everyone is satisfied, however. Boat owners (24) ____ most from the higher prices, while the workers on the boats say their wages have hardly changed. The town council is now discussing how to (25) ____ the gains more fairly.
Your turn · Write and say
Think about your own town or country. Write three sentences: what its economy depends on, who benefits most, and one change you would suggest.
Try to use at least three of these words: economy, finance, income, export, sector, labor, benefit, percent, estimate, distribute.
Then say your sentences aloud without looking at the screen.
One possible answer. The economy of my town depends on tourism, and most jobs are in the service sector. Hotel owners benefit most, while many workers live on a low income for half the year. I would use part of the hotel tax to finance training, so that the gains are distributed more fairly.
Check your own answer. Give yourself 0 to 3 for each line (0 = not yet, 3 = clearly yes).
I used at least three of the ten words.
I chose the right form of each word (noun, verb, adjective or adverb).
I used at least one word with a natural partner from the word table.
My sentences are about a real question from my own studies or work.
My self-check: 0 / 12. Different sentences can be just as good as the model if the words are used correctly.
| Part | Correct | Percent |
|---|
| Word knowledge | Correct | What it means |
|---|
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