Lesson 7: ECONOMIC REFORMS

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consume
consume /kənˈsuːm/
(verb) to use something, especially fuel, energy or time
Example: The printer consumes more toner than the downstairs printer


invest
invest /ɪnˈvest/
(verb) to buy property, shares in a company, etc. in the hope of making a profit
Example: Don't invest all of your time in just one project


reform
reform /rɪˈfɔːrm/
(noun) change that is made to a social system, an organization, etc. in order to improve or correct it
Example: For years I was an alcoholic, but I reformed when the doctors gave me six months to live.


sector
sector /ˈsektər/
(noun) a part of an area of activity, especially of a country’s economy
Example: In the financial sector, banks and insurance companies have both lost a lot of money.


investment
investment /ɪnˈvestmənt/
(noun) the act of investing money in something
Example: Stocks are regarded as good long-term investments.


substantial
substantial /səbˈstænʃl/
(adjective) large in amount, value or importance
Example: She inherited a substantial fortune from her grandmother.


Renovate
Renovate /ˈrenəveɪt/
(verb) to repair and paint an old building, a piece of furniture, etc. so that it is in good condition again
Example: We are planning to renovate our main lobby.


inflation
inflation /ɪnˈfleɪʃn/
(noun) a general rise in the prices of services and goods in a particular country, resulting in a fall in the value of money; the rate at which this happens
Example: The rate of inflation this year is ten percent.


eliminate
eliminate /ɪˈlɪmɪneɪt/
(verb) to remove or get rid of something
Example: Two contestants were eliminated from last night’s show.


stagnant
stagnant /ˈstæɡnənt/
(adjective) stagnant water or air is not moving and therefore smells unpleasant
Example: A stagnant economy is not growing or developing.


consumption
consumption /kənˈsʌmpʃn/
(noun) the act of using energy, food or materials; the amount used
Example: Industrialized countries should reduce their energy consumption.


consumer
consumer /kənˈsuːmər/
(noun) a person who buys goods or uses services
Example: It is necessary to raise consumers' awareness.


reformation
reformation /ˌrefərˈmeɪʃn/
(noun) the act of improving or changing somebody/something
Example: He's undergone something of a reformation.


reformer
reformer /rɪˈfɔːrmər/
(noun) a person who works to achieve political or social change
Example: My uncle has worked as a social reformer for years.


investor
investor /ɪnˈvestər/
(noun) a person or an organization that invests money in something
Example:


inflate
inflate /ɪnˈfleɪt/
(verb) to fill something or become filled with gas or air
Example: He inflated the balloons with helium.


inflationary
inflationary /ɪnˈfleɪʃəneri/
(adjective) causing or connected with a general rise in the prices of services and goods
Example: The inflationary trends are difficult to predict.


elimination
elimination /ɪˌlɪmɪˈneɪʃn/
(noun) the process of removing or getting rid of something completely
Example: We eventually found the answer by a process of elimination.


subsidy
subsidy /ˈsʌbsədi/
(noun) money that is paid by a government or an organization to reduce the costs of services or of producing goods so that their prices can be kept low
Example: The government is planning to abolish subsidies to farmers.


renovation
renovation /ˌrenəˈveɪʃn/
(noun) the act or process of repairing and painting an old building, piece of furniture, etc. so that it is in good condition again
Example: The house underwent major renovations.