To pass this unit, please study the 20 vocabulary words below.
- Accrue
- Acquire
- Barter
- Bond
- Charge
- Cryptocurrency
- Decentralize
- Designated
- Determine
- Endorse
- Fluctuation
- Freeze
- Incentive
- Instrument
- Merchant
- Require
- Seizure
- Third party
- Transaction
- Variable
Verb (infinitive)
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to be added over a given period
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"Interest on the loan accrues over the 10 year term"
Verb (infinitive)
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to come into possession or ownership of, to buy, to purchase
USA
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"The company has acquired several buildings on the island."
Verb (infinitive)
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to trade by exchanging goods rather than money
USA
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"Before money was common, people often bartered with animals like goats or cows."
Noun (thing)
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a certificate of ownership of a specified amount which can be redeemed
USA
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"Treasury bonds are a popular form of saving in the US."
Noun (thing)
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a fee, cost or expense which has to be paid
USA
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"Going over ones overdraft usually incurs a small charge."
Noun (thing)
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internet-based money which is governed by advanced mathematics and operates independently of a central bank.
USA
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"Bitcoin was the world's first cryptocurrency."
Verb (infinitive)
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to distribute the powers of a central organization over a wider area
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"A lot of companies decentralize certain functions like HR as it is more effective to have HR departments in all locations instead of only at the head office."
Adjective
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previously named or selected for a certain function
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"Mr. Smith is the designated representative for your area, so please contact him with any complaints."
Verb (infinitive)
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to decide on, to figure out
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"We need to determine the best course of action to deal with this problem."
Verb (infinitive)
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to sign one's name on a commercial document
USA
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"After the accounts manager endorses your payment request, it will be processed."
Noun (thing)
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constant changes and instability
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"Fluctuations in the exchange rate mean that the value of a currency is never predictable."
Verb (infinitive)
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to stop or limit the use of
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"After he had been accused of fraud, the government froze his assets to prevent him spending the money."
Noun (thing)
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something which provides stimulus or encouragement to do something
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"The company offers a range of incentives, such as commission and flexi-time to motivate staff."
Noun (thing)
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a means by which something is effected or done
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"The government has several instruments for ensuring compliance with tax regulations."
Noun (person)
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a storekeeper, retailer, or wholesaler; one who sells products
USA
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"More and more merchants accept American Express as a payment option."
Verb (infinitive)
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to need or have need of
USA
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"A lot of companies use e-invoicing nowadays and don't require a paper copy."
Verb (infinitive)
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taking possession of an item or monies legally or by force
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"The government's seizure of his estate came as a surprise to his wife."
Noun (person)
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a person or organization other than the two actors primarily involved in a situation
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"The contract is between the bank and you; it doesn't take account of any possible third parties."
Noun (thing)
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an item of business which has been carried out or conducted
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"The acquisition of K&M was the largest transaction in the history of the firm."
Noun (thing)
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something which does not remain fixed or stable
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"An uncertain exchange rate, unknown order quantity, and indefinite payment terms are all variables which make doing business with them problematic."