167. What is a Recession? (English Vocabulary Lesson)

Support the Podcast and Join my Patreon HERE -- https://www.patreon.com/thinkinginenglish CLICK HERE TO DONATE OR SUPPORT THE PODCAST!!!! - https://thinkinginenglish.blog/donate-and-support/ Across the world, our economies are struggling with inflation, soaring energy prices, and the impact of Russia’s war in Ukraine! It is likely the many countries will enter a recession. But… what exactly is a recession? What causes recession? And how can we reverse a shrinking economy? Let’s answer these questions today, while learning some useful economic vocabulary! TRANSCRIPT - https://thinkinginenglish.blog/2022/08/29/what-is-a-recession-english-vocabulary-lesson/ You may also like... 166. Afghanistan: One Year Later! (English Vocabulary Lesson) 165. Why is Ireland Divided? (English Vocabulary Lesson) 164. What is Happening in Taiwan? (English Vocabulary Lesson) 163. Are Dress Codes a Good Thing? (English Vocabulary Lesson) INSTAGRAM - thinkinginenglishpodcast (https://www.instagram.com/thinkinginenglishpodcast/)  Blog - thinkinginenglish.blog Vocabulary List Market (n) – is the business or trade in a particular type of goods or services The job market is strong right now To shrink (v) – to become smaller, or to make something smaller The company’s profits have shrunk from $10 million dollars last year, to just $2 million this year Decline (n) – when something becomes less in amount, importance, quality, or strength There is a decline in the number of unemployed people this month Quarter (n) – one of four periods of time into which a year is divided for financial calculations I pay my rent every quarter Holistic (adj) – dealing with or treating the whole of something or someone and not just a part My doctor takes a holistic approach to disease Bubble (n) – a temporary period of very successful economic performance in a particular country or sector, often followed by sudden failure There are worries that the current housing bubble may soon burst Inflation (n) – a general, continuous increase in prices Inflation in the UK has now reached 10% Deficit (n) – the total amount by which money spent is more than money received The country’s deficit is around $500 million --- Support this podcast: https://podcasters.spotify.com/pod/show/thinking-english/support