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Economy and business

Written by Amina Shah (IELTS)

6 IELTS Vocabulary questions with answers and explanations.

Printable worksheet with answer key

All questions with answers
  1. 'Inflation' is a general rise in:

    • 1 Prices
    • 2 Wages only
    • 3 Temperatures
    • 4 Exports only
    Show answer

    Correct answer: Prices

    Inflation means prices rise over time.

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  2. A 'consumer' is someone who:

    • 1 Makes goods
    • 2 Teaches
    • 3 Lends land
    • 4 Buys goods or services
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    Correct answer: Buys goods or services

    Consumers purchase and use goods.

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  3. 'Exports' are goods that a country:

    • 1 Produces at home only
    • 2 Buys from other countries
    • 3 Keeps for itself
    • 4 Sells to other countries
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    Correct answer: Sells to other countries

    Exports go abroad to be sold.

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  4. A 'budget' is a plan for:

    • 1 Spending and saving money
    • 2 Planning a trip only
    • 3 Writing an essay
    • 4 Building a house
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    Correct answer: Spending and saving money

    A budget sets out expected income and spending.

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  5. To 'invest' means to:

    • 1 Put money into something to make a profit
    • 2 Borrow money
    • 3 Waste money
    • 4 Give money away
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    Correct answer: Put money into something to make a profit

    Investors expect a return.

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  6. A 'shortage' means there is:

    • 1 Not enough of something
    • 2 Too much of something
    • 3 No demand
    • 4 The right amount
    Show answer

    Correct answer: Not enough of something

    A shortage is when supply is too low.

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