Expressions Related To Economics And Finance 1

관용어 & 어휘 1

Lesson 30

Expressions Related To Economics And Finance 1

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Lesson 30

EXPRESSIONS RELATED TO ECONOMICS AND FINANCE 1

Practice English with your teacher

Vocabulary 25 min Speaking 75%

Warm-up

Discuss these questions with your teacher before reading.

  1. Do you follow economic news regularly? What economic terms do you hear most often in Korean media?
    경제 뉴스를 정기적으로 보시나요? 한국 미디어에서 가장 자주 듣는 경제 용어는 무엇인가요?
  2. Which financial terms in English do you find most confusing? Why?
    영어 금융 용어 중 가장 혼란스러운 것은 무엇인가요? 왜요?

Vocabulary

Key words and expressions from the reading.

purchasing power /ˈpɜːrtʃəsɪŋ ˈpaʊər/
the ability to buy goods and services with available income  |  구매력
"A person's purchasing power is their ability to buy goods."
minimum wage /ˈmɪnɪməm weɪdʒ/
the lowest amount of pay that an employer is legally required to offer  |  최저 임금
"A minimum wage is the smallest amount of money that an employer is allowed to pay."
non-profit /nɒn ˈprɒfɪt/
an organization that does not aim to make financial profit  |  비영리
"An organisation which is non-profit does not make a profit intentionally."
fund-raiser /ˈfʌnd reɪzər/
a person or event organized to collect money for a cause  |  기금 모금가/행사
"A fund-raiser is a person or event which collects money."
hire purchase /haɪər ˈpɜːrtʃəs/
a system of buying by paying in installments over time  |  할부 구매
"In hire purchase the buyer pays part of the cost immediately."
gold reserve /ɡoʊld rɪˈzɜːrv/
the stock of gold held by a country's central bank  |  금 보유고
"The gold reserve is the amount of gold held by a national bank."
5 min

Reading

Read the passage with your teacher.
선생님과 함께 지문을 읽어보세요.

Reading
I. Complete the sentences with the appropriate word from the list:
a. Collector
b. Power
c. Pocket
d. Order
e. open
f. pay
g. non
h. Season
i. Raiser
j. Purchase
k. reserve
1. A ____ ticket can be used many times within a limited period and is cheaper than
paying separately for each use.
2. The gold ____ is the amount of gold held by a national bank.
3. A fund-____ is a person or event which collects money.
4. In hire ____ the buyer pays part of the cost immediately and then makes small
regular payments.
5. A person's purchasing ____ is their ability to buy goods.
6. ____ money is given by a parent to a child every week or month.
7. If you ask for a ____ rise, you want more money from your employer.
8. Mail ____ is a way of buying goods in which you choose what you want, usually from a catalogue.
9. In an ____ market a country allows companies from other countries to do business
there.
10. An organisation which is ____-profit does not make a profit intentionally (usually
charity).
II. Choose the letter of the correct answer.
11. If you live from hand to ____, you have just enough money to live without
suffering.
a. foot b. hand c. head d. mouth
12. In a ____ economy some industries are controlled privately and some by the
government.
a. mixed b. homogenous c. pure d. combined
13. A ____ wage is the smallest amount of money that an employer is allowed to pay someone.
a. maximum b. minimum c. lowest d. average
14. A ____ card is a credit card which you can get if you earn a lot of money.
a. gold b. budget c. visa d. ATM
15. Free ____ is an economic system in which private businesses compete with each
other.
a. enterprise b.
16. If something is hard-____, it is deserved because lots of work was done.
a. boiled b. headed c. earned d. gotten
17. € is the ____ sign.
a. won b. peso c. dollar d. euro
18. A country's national/public ____ is the total amount of money that is owed by its government.
a. equity b. capital c. debt d. assets
19. Hard ____ is money of a type that has a value in other countries than its own.
a. money b. currency c. cash d. wealth
20. Price-____ shoppers compare the prices of two similar products and buy the cheaper one.
a. curious b. aware c. conscious d. driven

Korean Trap

Korean speakers often confuse these economics and finance terms.

❌ "The company got many benefit from the investment. The economy is getting good."
✅ "The company gained many benefits from the investment. The economy is improving."

두 가지 실수입니다. (1) benefit은 가산명사이므로 many 뒤에 복수형 benefits를 씁니다. (2) 'getting good'은 구어적 표현으로, 경제에 대해서는 improving, recovering, growing 같은 동사가 전문적입니다. 또한 'got benefit'보다 'gained benefits'가 비즈니스 문맥에서 더 자연스럽습니다.

Discussion

Discuss these questions with your teacher after reading.

  1. The exercise mentions "purchasing power." How has purchasing power changed in Korea over the last few years? What factors affect it?
    '구매력(purchasing power)'이 연습에 나옵니다. 최근 몇 년간 한국의 구매력은 어떻게 변화했나요? 어떤 요인이 영향을 미치나요?
  2. The text mentions "mixed economy" where some industries are private and some government-controlled. How would you describe Korea's economic system? Give examples of government-controlled and private sectors.
    '혼합 경제'를 언급합니다. 한국의 경제 체제를 어떻게 설명하시겠습니까? 정부 통제 부문과 민간 부문의 예를 들어주세요.
  3. The exercise includes "minimum wage." What is the current minimum wage debate in Korea? How does it affect businesses you know?
    '최저 임금'이 포함되어 있습니다. 한국의 현재 최저 임금 논쟁은 무엇인가요? 아는 비즈니스에 어떤 영향을 미치나요?
  4. The idiom "live from hand to mouth" means to barely have enough money to survive. Do you know other English idioms about money or financial difficulty?
    'live from hand to mouth'는 겨우 먹고살 정도의 돈만 있다는 뜻입니다. 돈이나 재정적 어려움에 대한 다른 영어 관용어를 아시나요?

Lesson Summary / 수업 요약

Today's Topic: EXPRESSIONS RELATED TO ECONOMICS AND FINANCE 1

Level: Vocabulary (VOC)

Review this lesson before your next class! / 다음 수업 전에 복습하세요!