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Vocabulary Quiz
crisis • commodities • recession
stimulus • superannuation • stock • flat
  1. She doesn't actually have a job, but she spends a lot of time investing in the market.
  2. Many internet companies have a few years of growth and then fall .
  3. His company lost a lot of money during the .
  4. What kind of does your company produce?
  5. This package will motivate people to spend more money.
  6. Even small can cause a real in large cities.
  7. Everyone in this country has a lot of money save when they retire because of our program.
Comprehension Quiz
Answer the following questions about the interview.
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1155 Economics in Australia

Alex talks about how things are going well economically in Australia and how people are forced to save.

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notes
Vocabulary notes (text only) explain key vocabulary and phrases from the interview.

crisis

Throughout the global financial crisis.

Used like this, 'crisis' refers to a period of financial problems or instability. Notice the following:

  1. The city wasn't prepared for an environmental crisis like this.
  2. He does a very good job staying calm in a crisis.

commodities

They've been buying a lot of our export commodities.

A 'commodity' is a valuable item that can be traded or sold. Notice the following:

  1. His company ships commodities around the world.
  2. Her job involves looking for new and exciting international commodities.

recession

We didn't have a recession, unlike the United States.

A 'recession' is a temporary decline in economic activities.  Notice the following:

  1. It is a horrible time to look for work now because of the recession.
  2. Many people have lost their jobs during the recession.

stimulus package

Because of the stimulus package, the company survived.

A 'stimulus package' is used to help the economy creating jobs or increasing spending. Notice the following:

  1. Everyone will be getting a tax rebate this year as part of a national stimulus package.
  2. The government is proposing a stimulus package as part of their effort to help the economy.

superannuation

Often families pool their superannuation together.

A 'superannuation' is an amount that is regularly deducted from an employee's paycheck and invested in a plan used for retirement. Notice the following:

  1. Most people hate superannuation when they are young, but love the benefits when they are older.
  2. Does your country have a superannuation package?

stock

It can be divided between property, between shares, and between stock.

In this case, 'stock' refers to the shares or ownership of a company. Notice the following:

  1. He puts some of his money in savings and invests some of it in stock.
  2. They are finally selling some of their stock to the public.

fall flat

The economies will fall flat because they haven't got good structure.

In this example, 'fall flat' is used to mean something similar to 'fail' or 'collapse.' Notice the following:

  1. Their company will probably fall flat in a few years.
  2. It takes a lot of hard work to keep a nation from falling flat.

 

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