CHAPTER 08 OF 30
Economy & Money
5 Sual
41 İdeya
24 Termin
Etiket ideyanın ən uyğun olduğu esse növünü göstərir; ideyanın yalnız həmin növdə istifadə oluna biləcəyi demək deyil.
The Gap between Rich and Poor
SUAL
The gap between rich and poor countries continues to widen. What problems does this cause, and what measures could reduce it?
PROBLEM
SOLUTION
PROBLEM
The distribution of global wealth is unequal.
→
SOLUTION
Wealth should be more equally distributed.
PS
PROBLEM
As the rich grow richer, poverty worsens in poor countries.
→
SOLUTION
Developed countries should provide financial support to poor countries.
PS
PROBLEM
Some countries cannot even cater for basic human needs.
→
SOLUTION
Aid should be directed at food, clean water, sanitation and basic healthcare first.
PS
PROBLEM
The richest 1% own half of the world’s wealth while poorer people cannot afford health care or education.
→
SOLUTION
Taxes on wealth could be used to fund health care and education for all.
PS
PROBLEM
People leave poor countries to be educated in developed countries.
→
SOLUTION
Rich countries should offer training programmes in poor countries.
PS
PROBLEM
Some people do not return to their own country after graduation, which can cause a brain drain.
→
SOLUTION
People should agree to return to their country of origin after education.
PS
PROBLEM
Low wages cause many professionals in developing countries to migrate.
→
SOLUTION
Developing countries should provide more job incentives for educated people.
PS
PROBLEM
Poverty will increase in less developed countries.
→
SOLUTION
More countries need to implement a proper minimum wage policy.
PS
Rich Countries should Support Poor Countries
SUAL
Some people believe wealthy nations have a duty to help poorer ones, while others think each country should solve its own problems. Discuss both views and give your own opinion.
FOR
4
1
Poor countries need investment to develop.
DV
2
Without financial help, poor countries cannot get out of the circle of poverty.
DV
3
Rich countries can benefit from creating new markets.
DV
4
Poor or rich, people should help each other.
DV
AGAINST
4
1
Rich countries have their own issues to deal with.
DV
2
Countries should solve their own problems by themselves.
DV
3
Poor countries may grow dependent on rich countries.
DV
4
The best form of aid is to help people to help themselves.
DV
Personal Debt
SUAL
More and more people are falling into personal debt. What are the causes of this, and what can be done to help?
PROBLEM
SOLUTION
PROBLEM
People are being encouraged to use credit cards.
→
SOLUTION
Banks should be stricter about issuing loans.
PS
PROBLEM
People overspend without banks stopping them.
→
SOLUTION
Banks should set credit limits depending on people’s history of debt management.
PS
PROBLEM
Some people are addicted to using their credit cards.
→
SOLUTION
Banks should monitor people’s accumulation of debt better.
PS
PROBLEM
Advertising entices people to spend indiscriminately.
→
SOLUTION
Schools should teach children about the problems incurred by debt.
PS
PROBLEM
Advertising tempts people to squander money on unnecessary items.
→
SOLUTION
People should be taught how to budget sensibly.
PS
Using Credit Cards
SUAL
Credit cards have become the most common way of paying for goods. Do the advantages of this outweigh the disadvantages?
FOR
5
1
Credit cards offer flexibility of spending.
DV
2
People do not need to wait for payday to buy what they need.
DV
3
Cards are useful in emergency situations.
DV
4
Cards can allow gradual payments.
DV
5
Cards encourage people to spend, which benefits business.
DV
AGAINST
5
1
People are tempted to buy things they do not need.
DV
2
People run up debts.
DV
3
People may turn to loan sharks for help in debt repayments.
DV
4
Debt puts strain on families.
DV
5
Debt can cause problems for a country’s economy.
DV
Saving Money is Good for a Country’s Economy
SUAL
A country’s economy benefits more when its citizens save than when they spend. To what extent do you agree or disagree?
SAVING
5
1
If spending is based on credit, it will result in increased debt.
DV
2
A country which has too much debt has financial problems.
DV
3
Saving for old age is essential and eases the strain on social welfare.
DV
4
Old people without enough money drain a country’s economy.
DV
5
An increase in savings allows banks more flexibility in lending money for investment.
DV
SPENDING
5
1
Increased spending reflects consumers’ confidence in a country’s economy.
DV
2
When people spend money, it stimulates the economy.
DV
3
Consumer spending can be considered the driving force behind an economy.
DV
4
New businesses will open to cope with increased customer demand.
DV
5
More jobs will be created as more businesses open.
DV
ECONOMY & MONEY · WORD BANK · 24 Termin
Faydalı anlayışlar
& akademik lüğət
Termin · Məna · Kollokasiya və nümunə cümlələr.
01
the wealth gap
n
Universal
The difference in income and assets between rich and poor.
the wealth gap continues to widen
02
standard of living
n
Universal
The level of comfort and wealth a person or country has.
raise the standard of living
03
developing country
n
A country with a low income and limited industry.
aid to developing countries
04
foreign aid
n
Money or goods given by one country to another.
foreign aid is often mismanaged
05
debt relief
n
Cancelling part of what a poor country owes.
debt relief frees money for schools
06
incur debts
v
Universal
To take on money that must be repaid.
households incur debts they cannot service
07
interest rate
n
The charge for borrowing money, as a percentage.
high interest rates on credit cards
08
to be in the red
idiom
To owe money; to be overdrawn.
households are in the red by March
09
live beyond one’s means
idiom
To spend more money than one earns.
credit lets people live beyond their means
10
spiral into debt
v
To fall into debt that grows uncontrollably.
families spiral into debt after one missed payment
11
disposable income
n
Universal
Money left after taxes and essentials are paid.
a fall in disposable income
12
a nest egg
idiom
Money saved for the future.
build a nest egg for retirement
13
consumer spending
n
The total money the public spends on goods.
consumer spending drives the economy
14
economic growth
n
Universal
An increase in what a country produces.
strong economic growth
15
recession
n
A period when the economy shrinks.
businesses fail during a recession
16
inflation
n
A general rise in prices over time.
wages have not kept pace with inflation
17
progressive taxation
n
A system where higher earners pay a higher rate.
fund services through progressive taxation
18
redistribute wealth
v
To move income from richer to poorer groups.
taxes redistribute wealth
19
living wage
n
Pay high enough to cover basic needs.
introduce a genuine living wage
20
social mobility
n
Universal
The ability to move to a higher income group.
education is the main route to social mobility
21
the poverty cycle
n
Poverty passing from one generation to the next.
break the poverty cycle
22
subsidy
n
Money given by the state to keep prices low.
remove the fuel subsidy
23
financial literacy
n
Universal
Understanding how money, credit and saving work.
teach financial literacy at school
24
austerity
n
Government policy of cutting public spending.
a decade of austerity
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