Vocabulary
- Economic Fluctuation
BrE: /ˌiː.kəˈnɒm.ɪk ˌflʌk.tʃuˈeɪ.ʃən/
AmE: /ˌiː.kəˈnɑː.mɪk ˌflʌk.tʃuˈeɪ.ʃən/
Definition: Changes in the economy that happen regularly, causing periods of growth and decline.
Easy explanation: When the economy goes up and down over time, sometimes better, sometimes worse.
Example: “Economic fluctuations can make it hard for businesses to plan for the future.”
2. Market Shift
- BrE: /ˈmɑː.kɪt ʃɪft/
- AmE: /ˈmɑːr.kɪt ʃɪft/
Definition: A clear change in market conditions, such as demand, supply, or consumer preferences.
Easy explanation: When buying and selling patterns in a market change noticeably.
Example: “The rise of online shopping caused a market shift in the retail industry.”
3. Financial Crisis
- BrE: /faɪˈnæn.ʃəl ˈkraɪ.sɪs/
- AmE: /faɪˈnæn.ʃəl ˈkraɪ.sɪs/
Definition: A situation where financial institutions or markets face serious problems, leading to loss of money and trust.
Easy explanation: When money problems cause big trouble for banks, companies, or the whole economy.
Example: “The 2008 financial crisis affected economies around the world.”
4. Economic Downturn
- BrE: /ˌiː.kəˈnɒm.ɪk ˈdaʊn.tɜːn/
- AmE: /ˌiː.kəˈnɑː.mɪk ˈdaʊn.tɝːn/
Definition: A period when the economy slows down, with less growth and more unemployment.
Easy explanation: When the economy becomes weaker and people lose jobs.
Example: “Many countries faced an economic downturn after the global pandemic.”
IELTS Speaking Challenge
Question:
Describe an economic change that happened in your country.
Sample Band 6 answer:
“A few years ago, prices went up a lot, and it was harder for people to buy things. Many people lost jobs and were worried. The government tried to help by giving money to some companies.”
IELTS Writing Challenge
Task:
Write 3-4 sentences about how an economic change affected people and what the government did.
Sample Band 6 answer:
“The price rise made food and fuel more expensive. People had to spend more money and buy less. Some families had problems paying bills. The government gave subsidies to help people pay for food and fuel.”
Grammar Focus
Focus on past simple tense to describe events that happened before:
- Example: “Prices went up last year.”
- Example: “The government gave money to help.”
Rewrite Challenge
Rewrite this simple sentence into a clearer sentence with cause and effect:
“Prices went up, and people were sad.”
Band 6 Rewrite:
“Prices rose because of economic problems, and this made it difficult for many people to afford basic goods.”
Conclusion
Today, you learned to:
- Understand and use the phrase economic change
- Speak clearly about how an economy can change
- Write simple sentences explaining causes and effects
- Use past simple tense for talking about past events
- Rewrite simple sentences to show cause and effect
Keep practicing! This will help you speak and write better in IELTS Speaking Part 2.
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