Business Definitions

The most important industries in a country. (Oil is a .................................................... which is essential to the country’s economy.)

The amount by which expenditure is more than receipts in a firm’s or country’s accounts. (The company announced a two million pound .................................................... .)

The percentage charged for borrowing money. (The Bank of England has raised .................................................... .)

The value of goods and services paid for in a country, including income earned in other countries. (Last year’s .................................................... was close to £25 billion.)

Industries involved in the manufacture of goods. ( .................................................... rely on the ready supply of raw materials.)

Industries which do not make products but offer a service such as banking, insurance and transport. ( .................................................... have become more important in the last decade.)

The action of imposing taxes. (Money raised by .................................................... pays for all government services.)

A state in an economy where prices and wages are rising to keep pace with each other. (The government is trying to keep .................................................... down below 3 per cent.)

The amount which a firm, machine or person produces. (The factory has doubled its .................................................... in the last six months.)

Installing machinery in place of workers ( .................................................... can be a mixed blessing – machines usually tend to be out of order when you need them most.)

Industries which were once privately owned, but now belong to the state. (Workers in .................................................... are to get a 3 per cent pay rise.)

The difference in value between a country’s imports and exports. (The government is trying to reduce the .................................................... deficit.)

A fixed amount of money that you earn each month of year from your job (I receive an annual .................................................... of £30,000)

A system where one person or company supplies all of a product in one area without any competition. (The state has a .................................................... of the tobacco trade.)

Industries involved in the production of raw materials. (Coal mining is an important .................................................... .)

A tax imposed as a percentage of the invoice value of goods or services. An indirect tax. ( .................................................... in Britain currently runs at 20 per cent.)

Lack of work. (The figures for .................................................... are rising.)

A tax on money earned as wages or salary. (She pays .................................................... at the lowest rate.)