Business Word/Phrase of the Day

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INVISIBLE EXPORTS /ɪnˈvɪzəbəl ɪkˈspɔrt/

21 Jan 2020

Noun

  • Services supplied to foreign countries such as banking and other financial services are called invisible exports
Example Sentences: Invisible exports now make up more than half of the United Kingdom's GDP
 

LUNCHEON VOUCHERS /lʌntʃən vaʊtʃər/

20 Jan 2020

Noun

  • Luncheon vouchers are given by employers to employees to buy meals in some restaurants.
Example Sentences: Selected workers would benefit from luncheon vouchers, free transportation to the construction site and accommodation on location.
 

PIECES OF EIGHT  

19 Jan 2020

Phrase

  • In the past, pieces of eight was the term used for gold coins. The Spanish created the term.
Example Sentences: Frank went searching for buried treasure off the coast of Florida; he found pieces of eight, the Spanish currency in the 1600s and 1700s.
 

SICK PAY /sɪk peɪ/

18 Jan 2020

Noun

  • Sick pay is money given by an employer to someone who cannot work because of illness.
Example Sentences: Surely your company won't give you indefinite sick pay; don't they specify a time limit?
 

SHARP-NOSED /ʃɑrp noʊz/

17 Jan 2020

Adjective

  • Someone who is sharp-nosed is good at dealing with money.
Example Sentences: David hasn't become rich by luck. He's a very sharp-nosed businessman.
 

THE GRAVY TRAIN  

16 Jan 2020

Phrase

  • The gravy train is a way of making money quickly, easily, and often dishonestly.
Example Sentences: With no end to the property boom in sight, speculators are continuing to ride the gravy train.
 

INFLATIONARY SPIRAL /ɪnˈfleɪʃəˌnɛri spaɪrəl/

15 Jan 2020

Noun

  • An inflationary spiral is when salaries and prices take turn to grow in short intervals.
Example Sentences: Recent rises in inflation are more likely to weaken consumer spending than lead to an inflationary spiral of higher salaries and prices.
 

REDUNDANCY PAYMENT /rɪˈdʌndənsi peɪmənt/

14 Jan 2020

Noun

  • A redundancy payment is what a company pays to workers who are no longer needed.
Example Sentences: How was your redundancy payment calculated?
After working for the company for 20 years, I received a very generous redundancy payment.
 

STANDING ORDER /stan′diŋ ôr′dər/

13 Jan 2020

phrase

  • Purchase order covering repeated deliveries of goods or services in specified quantities, at specified prices, and according to a specified schedule.
Example Sentences:We have a standing order for 100 reams of A4 paper each month.
Since we’re ordering regularly from this supplier, I suggest we set up a standing order with them.
 

MERCHANT BANK /mɜrtʃənt bæŋk/

12 Jan 2020

Noun

  • A merchant bank is a bank involved with companies rather than with people.
Example Sentence: Agro National Bank is a merchant bank which specialises in lending to the farming industry.
 

UNEMPLOYMENT BENEFIT /ʌnɛmˈplɔɪmənt bɛnəfɪt/

11 Jan 2020

Noun

  • Unemployment benefit is regularly paid by the government to people who do not have a job.
Example Sentence: Over 2 million people in the United Kingdom receive unemployment benefit.
 

TRADE FAIR /treɪd fɛər/

10 Jan 2020

Noun

  • A trade fair is a large gathering at which companies show and sell their products.
Example Sentence: Singapore is currently holding an international trade fair for the IT industry.
 

BANK INTEREST RATE  

09 Jan 2020

Noun

  • A bank's interest rate is the amount that the bank charges on money that it lends you.
Example Sentence: My bank's interest rate on mortgages currently stands at 4.75%; its interest rate on savings is just 1.3%.
 

CONSUMER PRICE INDEX  

08 Jan 2020

Noun

  • The consumer price index is a measurement of the changes in the cost of basic goods and services.
Example Sentence: Analysts were forecasting that the Consumer Price Index would register a 0.4 percent increase for July when that figure is released on Wednesday.
 

NEST EGG /nɛst ɛg/

07 Jan 2020

Noun

  • A nest egg is a sum of money that has been saved or kept for a special purpose.
Example Sentence: Regular investment of small amounts of money is an excellent way of building a nest egg.
 
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