Lesson 1

Question 1

If you possess something, you can say that you ________ it

Answer 1

own

DEFINITION: something that belongs to the person or thing mentioned
ex. The Church would look after its own.

Question 2

If you have to reimburse or repay someone, you _______ money

Answer 2

owe

DEFINITION: (verb) have an obligation to pay or repay (something, especially money) in return for something received
ex. They have denied they owe money to the company; You owe me £19.50 for the electricity bill.

Question 3

To let someone else have the use of your money for a certain period of time, after which it must be paid back, is to ________

Answer 3

lend

DEFINITION:

Question 4

To take money that has to be repaid is, on the contrary, to _________

Answer 4

borrow

Question 5

An amount of money lent is a _________

Answer 5

loan

Question 6

A person who has borrowed money is a __________

Answer 6

debtor

Question 7

Another word for a lender is a/an __________

Answer 7

creditor

Question 8

The income received by someone who lends money is called __________

Answer 8

interest

Question 9

The borrower has to pay back the loan itself, also known as the __________

Answer 9

principal

Question 10

The amount of money a lender receives for a loan or an investment, expressed as a percentage, is known as its return or __________

Answer 10

yield

Question 11

Money in notes and coins is called ___________

Answer 11

cash

Question 12

The dollar, the mark and the yen are all ________

Answer 12

currencies

Question 13

Money borrowed from a bank is a ________

Answer 13

loan

Question 14

Borrowed money that has to be paid back constitutes a ________

Answer 14

debt

Question 15

All the money received by a person or a company is known as ________

Answer 15

income

Question 16

The money earned for a week’s manual work is called ________

Answer 16

wages

Question 17

The money paid for a month’s (professional) work is a ___________

Answer 17

salary

Question 18

Money placed in banks and other saving institutions constitutes __________

Answer 18

deposits

Question 19

Money paid by the government or a company to a retired person is a ________

Answer 19

pension

Question 20

The money that will ultimately be used to pay pensions is kept in a ________

Answer 20

fund

Question 21

The money needed to start a company is called ________

Answer 21

capital

Question 22

The money paid to lawyers, architects, private schools, etc. is called ________

Answer 22

fees

Question 23

Regular part payments of debts are called ________

Answer 23

instalments

Question 24

Part of a payments that is officially given back (for example, from taxes) is called a ________

Answer 24

rebate

Question 25

Estimated expenditure and income is written in a _________

Answer 25

budget

Question 26

A person's money in a business is known as his or her ________

Answer 26

stake

Question 27

Money given to producers to allow them to sell cheaply is called a ________

Answer 27

subsidy

Question 28

Money given to developing countries by richer ones is know as _________

Answer 28

aid