📅 2026-10-01📊 C1 Advanced📚 20 new words🎧 daily podcast
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📚 Vocabulary
20 new wordsLearn new words with real examples and audio.
leverage /LEH-vuh-rij/
verb
to use borrowed money or influence to increase the potential scale of gains (and losses)
"The firm used leverage to buy far more assets than its cash alone would allow."
liquidity /lih-KWIH-duh-tee/
noun
how quickly and easily an asset can be converted to cash without losing value
"Real estate has much lower liquidity than stocks or bonds."
volatility /vah-luh-TIH-luh-tee/
noun
the degree of rapid, unpredictable price changes in a market
"Oil price volatility makes long-term budgeting difficult for airlines."
deficit /DEH-fih-sit/
noun
the amount by which spending exceeds income or revenue
"The government ran a deficit of two percent of GDP last year."
surplus /SUR-plus/
noun
an amount left over after spending; the excess of income over expenses
"The trade surplus reached a record high this quarter."
arbitrage /AR-bih-trahzh/
noun
buying cheap in one market and selling higher in another for a nearly risk-free profit
"Algorithmic traders profit from arbitrage between different exchanges."
speculation /speh-kyuh-LEY-shun/
noun
investment in risky assets in the hope of making a large profit
"Pure speculation drove the meme stock to absurd levels."
collateral /kuh-LAH-tuh-rul/
noun
an asset pledged as security for a loan, seized if the borrower defaults
"The bank demanded collateral before approving the mortgage."
dividend /DIH-vih-dend/
noun
a share of a company's profits paid out to its shareholders
"The company raised its dividend for the fifth consecutive year."
equity /EH-kwih-tee/
noun
the ownership value in a company or asset after all debts are subtracted
"His equity in the startup grew tenfold after the public offering."
bubble /BUH-bul/
noun
a rapid rise in asset prices far above their real value, followed by a crash
"The housing bubble burst in 2008, wiping out trillions in wealth."
downturn /DOWN-turn/
noun
a decline in economic or business activity
"Retail sales fell sharply during the economic downturn."
stimulus /STIH-myuh-lus/
noun
government spending or policy measures aimed at boosting the economy
"The central bank announced a stimulus package to revive growth."
recession /rih-SEH-shun/
noun
a prolonged period of economic decline, typically two quarters of shrinking output
"Economists fear a global recession could begin next year."
austerity /aw-STEH-ruh-tee/
noun
government policies of strict spending cuts intended to reduce deficits
"Austerity measures sparked protests across the capital."
subsidize /SUB-sih-dyz/
verb
to financially support an industry or product so its price falls
"The state subsidizes renewable energy to encourage adoption."
bailout /BAYL-out/
noun
an emergency financial rescue of a failing company or economy
"The airline received a government bailout to avoid bankruptcy."
diversification /dih-vur-sih-fih-KEY-shun/
noun
spreading investments across different assets to reduce risk
"Diversification protected her portfolio during the market crash."
inflationary /in-FLAY-shuh-neh-ree/
adjective
causing or relating to inflation; tending to raise prices
"Printing too much money to fund spending is inflationary."
hedge /HEJ/
verb
to make investments that reduce the risk of financial losses
"Investors hedge against inflation by buying gold."
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📝Grammar: Obligation and prohibition: have to, must, should
At C1 level you know the basics. The real skill is choosing the right modal for the right shade of meaning.
Use **have to** for external, general rules: banks **have to** hold enough liquidity by law. Use **must** for obligation the speaker feels personally: I **must** hedge this position before the weekend.
The classic exam trap: **mustn't** = prohibition (you **mustn't** trade on insider information). **Don't have to** = no obligation, free to choose (you **don't have to** buy equities).
**Needn't** is the formal British **don't have to**. With a perfect infinitive it reaches the past: yo
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