Shopping and Money
English Basic Vocabulary - Part 2 · 50 lessons
What does “Monopoly” mean?
A is correct. A monopoly means one person or company controls the entire supply of something, so they have exclusive power over prices and availability. The word itself comes from "mono" (one) + "poly" (seller).
B is wrong because that describes the opposite situation—competition or a distributed market. When many entities share control, it's not a monopoly; it's a competitive market.
What does “Savings” mean?
A is correct: Savings refers to money you've set aside and accumulated—typically kept in a bank account or investment plan—rather than spent immediately.
B is wrong: This describes spending or expenses, which is the opposite of saving. When you spend money, it's gone; when you save, you keep it for the future.
What does “Bank Account” mean?
Correct answer: A
A bank account is money you keep at a bank that you can access and use—either by writing checks, making withdrawals, or transfers. This definition captures what a bank account actually is: your deposited funds that are *available* to you.
Why B is wrong:
Option B contradicts itself. It says a bank account is a fund that is "not available"—but that's the opposite of what a bank account does. The whole point of having a bank account is that your money *is* available when you need it.
What does “Financing” mean?
A is correct. Financing means supplying money or credit to help someone or a business do something—like a bank lending money for a car or a company raising capital to expand.
B is wrong. This describes the opposite action. Taking away funds would be more like withdrawing, removing, or defunding—not financing.
What does “Expensive” mean?
Correct answer: A. Costing a lot of money.
When something is "expensive," it has a high price tag. You need to spend a significant amount of money to buy it.
Why B is wrong:
Option B describes something "cheap" or "inexpensive"—the opposite of expensive. If something costs little money, it's not expensive.
What does “Cheque” mean?
A is correct: A cheque is a written instruction you give to your bank telling it to pay money from your account to someone else. You write the payee's name, the amount, and sign it—then the bank transfers that money out.
B is wrong: This describes a deposit slip or paying-in slip, which tells a bank to *receive* or *accept* money into your account—the opposite of what a cheque does.
What does “Currency” mean?
Why A is correct:
Currency literally means the money that is currently circulating and accepted in a country—like dollars in the US or euros in Europe. It's the standard medium of exchange people use for everyday transactions.
Why B is wrong:
This contradicts the definition. Currency is *always* related to money, not unrelated to it. The word "currency" comes from "current," meaning what's actively flowing through the economy as payment.
What does “Investment” mean?
A is correct. Investment means putting money into something (like stocks, property, or a business) with the expectation of getting financial returns or profits in the future.
B is wrong. Spending money wastefully is called "wasting" or "squandering," not investing. Investing is purposeful and goal-oriented toward gaining profit, whereas wasteful spending has no profit motive.
What does “Cost” mean?
A is correct: Cost is what you *spend* or *pay out* for something. It's money going out of your pocket.
B is wrong: That describes *revenue* or *income*—money coming *in* from sales. That's the opposite of a cost.
What does “Economy” mean?
A is correct because an economy involves the production and exchange of goods and services—the systems of trade and industry that *create* wealth and distribute it.
B is wrong because:
- Economies aim to *build* wealth, not create poverty
- "Expenditure and waste" describes mismanagement, not what an economy fundamentally is
- This is essentially the opposite of what economies do
What does “Sales Tax” mean?
A is correct: Sales tax is a tax (a mandatory payment to the government) charged on sales transactions or the money received from selling goods/services.
B is wrong: A subsidy is the opposite of a tax—it's money the government *gives* to businesses to encourage activity, not money collected from them. Sales tax collects revenue, it doesn't give it away.
What does “Penny Pincher” mean?
Why A is correct:
A "penny pincher" is someone who is very careful with money, reluctant to spend it, and focuses on saving. The phrase reflects someone who values every small amount (even a penny) and tries to keep it rather than spend it.
Why B is wrong:
This describes a spendthrift or big spender—the opposite of a penny pincher. A penny pincher doesn't spend a lot of money; they do the opposite.
What does “Layaway” mean?
Why A is correct:
Layaway is a payment plan where you put down a deposit to hold an item, then pay the rest over time before taking it home. The store keeps the item until you've paid in full.
Why B is wrong:
This describes regular shopping, not layaway. Layaway specifically *requires* a deposit upfront to reserve the item—that's what makes it different from just buying something normally.
What does “Price Match” mean?
Correct Answer (A): Price matching is a customer-friendly policy where a store promises to charge you the same (lower) price if you find the item cheaper elsewhere. This protects your wallet and gives you confidence shopping there.
Why B is wrong: This describes the *opposite* of price matching—it would mean ignoring competitor prices, which would actually hurt customers by charging them more. That's not what price match policies do.
What does “Bulk Buy” mean?
A is correct: "Bulk buy" means buying large amounts of something at once, which typically costs less per item because sellers offer discounts for big orders.
B is wrong: This describes the opposite—buying small quantities (like individual items at retail) costs *more* per unit, not less. This isn't bulk buying.
What does “Markdown” mean?
Correct Answer: A reduction in price
In retail, "markdown" specifically refers to lowering a product's price, often to clear inventory or attract customers. This is the standard business definition.
Why B is wrong:
An increase in price is called a "markup," not a markdown. These are opposite concepts.
What does “Rain Check” mean?
Why A is correct:
"Rain check" means you're postponing something now with a guarantee to do it later. It comes from baseball—if rain cancels a game, you get a ticket stub (rain check) to attend another game instead.
Why B is wrong:
This reverses the meaning entirely. It says the offer *won't* be honored later, which is the opposite of what "rain check" means. If someone says "I'll take a rain check," they're committing to reschedule, not canceling permanently.
What does “Retail Price” mean?
A is correct. Retail price is what customers pay in stores or online when buying products for personal use—this is the final price consumers see and pay.
B is wrong because that describes *wholesale price*, which is the lower bulk price sellers charge to distributors and retailers (not the end consumer). Wholesalers then mark up those goods and sell them at retail price to regular shoppers.
What does “Till” mean?
Why A is correct:
"Till" is a common term for a cash register or drawer where money is kept in a shop or business. It's especially common in British English.
Why B is wrong:
A storage facility or warehouse is called a "store," "warehouse," or "depot"—not a "till." The word "till" has nothing to do with storage.
What does “Shopping List” mean?
Correct answer: A
A "shopping list" is a practical tool people use to remember what to buy at a store. You write down items you need before you go shopping so you don't forget anything.
Why B is wrong:
Option B is the opposite of what a shopping list is. A shopping list tells you what *to* buy, not what to avoid. If you wanted to avoid items, that would be something completely different (like a "do not buy" list).
What does “V A T” mean?
Correct answer: A – Value Added Tax
VAT is a consumption tax applied at each stage of production/sales, where tax is paid on the "value added" at that stage. It's assessed (added on) incrementally as goods move through the supply chain.
Why B is wrong:
"Value Reduction Tax" isn't a real tax system. VAT isn't about reduction or deduction—it's about adding tax at each step. The word "added" in the name is key.
What does “Fiscal” mean?
Why A is correct:
"Fiscal" specifically refers to government money matters—taxes, budgets, spending, and revenue. When you hear "fiscal year" or "fiscal policy," it's always about government finances.
Why B is wrong:
This is the opposite of the true definition. Fiscal is *entirely* about finance and the economy, not unrelated to it. This option contradicts what the word actually means.
What does “Inflation” mean?
Correct Answer (A): Inflation means prices rise over time, so your money buys less stuff. If a coffee costs $5 instead of $3, that's inflation—your dollars have lost value.
Why B is wrong: That describes *deflation*, the opposite of inflation. When prices fall and your money buys *more*, that's deflation, not inflation.
What does “Liquidation” mean?
A is correct. Liquidation means ending a business by selling off all its assets (equipment, inventory, property, etc.) to pay debts and return remaining money to owners. It's what happens when a company shuts down.
B is wrong. That describes the opposite—starting and growing a business is called launching or expansion, not liquidation. Liquidation is about winding down, not building up.
What does “Expenditure” mean?
A is correct: Expenditure means money or resources going *out* — when you spend or use them up. It's about consumption.
B is wrong: This describes the opposite of expenditure. Saving and conserving means *keeping* resources, not spending them.
What does “Outlet” mean?
Correct answer (A): An outlet is where customers can buy or receive goods—like a retail store, mall shop, or distribution center. It's the endpoint in the supply chain where products reach consumers.
Why B is wrong: Manufacturing happens at factories or plants, not outlets. An outlet comes *after* production; it's where finished goods go to be sold.
What does “Boutique” mean?
A is correct: "Boutique" comes from French and refers to a small, specialized shop—often upscale—that sells trendy fashion items or accessories. It emphasizes quality and style over mass production.
B is wrong: A large industrial facility describes a factory or manufacturing plant, which is the opposite of a boutique. Boutiques are intentionally small and personalized, not large-scale operations.
What does “Asset” mean?
Why A is correct:
An asset is something of value or usefulness—like money, property, skills, or equipment. In business and personal finance, assets are resources that help you achieve goals or create wealth.
Why B is wrong:
This describes a *liability* or burden, the opposite of an asset. A useless or harmful thing would actually drain value, not add it.
What does “Gross Profit” mean?
A is correct. Gross Profit = Revenue minus Cost of Goods Sold (COGS). It's called "gross" because it hasn't had operating expenses like rent, salaries, and utilities subtracted yet—those come later.
B is wrong. That describes *Net Profit* (or Operating Profit), which comes after you subtract overhead costs from gross profit. It's the "bottom line" after all expenses.
What does “Depreciation” mean?
Correct Answer: A
Depreciation means assets lose value over time due to wear, aging, or obsolescence. For example, a car, computer, or building is worth less after several years of use than when it was brand new.
Why B is wrong: That describes *appreciation*, which is the opposite. Some assets (like real estate or collectibles) can gain value, but that's not depreciation—it's the reverse.
What does “Net Profit” mean?
A is correct. Net profit is what's left over after you subtract ALL costs (wages, rent, materials, taxes, etc.) from your total revenue. It's the actual money a business keeps.
B is wrong. That describes *gross profit*, which only subtracts the cost of goods sold—not operating expenses like salaries or rent. Gross profit is always higher than net profit because fewer expenses are removed.
What does “Cashier” mean?
Why A is correct:
A cashier's main responsibility is handling money—taking payments from customers and giving change or processing refunds. You see them at checkout counters in stores and banks.
Why B is wrong:
This is the opposite of what a cashier does. Cashiers *must* handle transactions and money as their core job; if they didn't, they wouldn't be cashiers at all.
What does “Customer Service” mean?
Correct answer (A): Customer service means helping customers—providing assistance, answering questions, and solving problems. Companies do this to support people who buy their products or use their services.
Why B is wrong: It describes the *opposite* of customer service. Ignoring customers and showing disregard would actually be *poor* customer service or no service at all. Customer service is fundamentally about caring for and helping customers, not dismissing them.
What does “Profit Margin” mean?
A is correct. Profit margin shows what percentage of each sale is actual profit. You calculate it by taking profit (sale price minus cost price) and dividing by the sale price to see how much profit you made per dollar of sales.
B is wrong. Adding cost and sale price together doesn't make sense—that would give you a number larger than the sale price itself, which can't represent a meaningful profit percentage.
What does “Discount Rate” mean?
A is correct because "charged" is the precise financial term—it means banks must *pay* this rate when borrowing from the Fed, making it a cost to them.
B is wrong because "given to" suggests the banks *receive* interest (as if earning money), which is backwards. Banks pay the discount rate; they don't receive it.
What does “Economy Brand” mean?
Why A is correct:
An "economy brand" offers products at lower prices without sacrificing acceptable quality—customers get good value for what they pay. Examples include store brands or budget retailers like Walmart or ALDI.
Why B is wrong:
This describes a *scam* or poor brand reputation, not an economy brand. Economy brands succeed by maintaining reasonable quality at low prices, not by intentionally overcharging or providing low-value products.
What does “Flash Sale” mean?
Correct Answer (A): A flash sale is a real retail strategy where stores offer big discounts for a very limited time to create urgency and attract quick purchases. The word "flash" means quick and sudden, matching how fast these deals disappear.
Why B is wrong: If prices were inflated (raised higher), it wouldn't be called a "sale"—that's the opposite of what shoppers expect. Sales mean discounts, not price increases.
What does “Buy One Get One” mean?
Correct Answer (A): "Buy One Get One" (BOGO) is a promotional offer where you purchase one item at full price and receive a second identical (or similar) item free. You walk away with two products but only pay once—that's the whole point of the deal.
Why B is wrong: This describes the *opposite* of a discount—you'd be paying more to get less. That would be a terrible deal for customers and makes no business sense as a promotion. BOGO is meant to *benefit* the shopper, not punish them.
What does “Shopper's Paradise” mean?
Why A is correct:
A "Shopper's Paradise" is an idiom meaning a place where shoppers can find everything they want—lots of different stores and products in one location, making shopping easy and enjoyable.
Why B is wrong:
This is the opposite of what the phrase means. A place with *no* variety would be frustrating for shoppers, not a "paradise." The word "paradise" suggests an ideal, perfect situation—and for shoppers, that's having lots of choices.
What does “Price Hike” mean?
A is correct: "Hike" means to go up or increase. So a "price hike" is when prices go up—things cost more money.
B is wrong: A decrease would be a "price drop" or "price cut," not a hike. Hike always means going upward, not downward.
What does “Special Offer” mean?
A is correct. A special offer is when a business temporarily lowers prices to draw customers in—this is the standard meaning of the term.
B is wrong. Inflating (raising) prices would deter customers, not attract them. That's the opposite of what a special offer does.
What does “Billing Statement” mean?
Correct answer (A): A billing statement is exactly what this describes—a periodic summary (usually monthly) showing what you bought, what you paid, and what you still owe. It's the standard document credit card companies and banks send to track your account activity.
Why B is wrong: It contradicts the actual purpose of a billing statement. Statements don't deny transactions or hide balances; they're designed to *show* all transactions and *clearly display* your balance so you know where you stand financially.
What does “Sale Item” mean?
Correct answer (A): A "sale item" is something a store temporarily discounts to attract customers and move inventory faster. The "reduced price" and "certain amount of time" are key—sales are temporary deals, not permanent prices.
Why B is wrong: If a product is "never offered for sale," it wouldn't be called a "sale item" at all. That describes the opposite—something kept hidden or unavailable, not something on sale.
What does “Online Payment” mean?
A is correct because online payment specifically refers to digital transactions—using credit cards, digital wallets, bank transfers, or other electronic methods to pay for things on the internet or through apps.
B is wrong because that describes a cash transaction, which is the opposite of online payment. Cash is physical money exchanged in person, not digital payment.
What does “Surcharge” mean?
A is correct: A surcharge is an *extra* fee on top of the base price—like a convenience fee when buying tickets online or a service charge at a restaurant.
B is wrong: This describes a discount or reduction, which is the opposite of a surcharge. A surcharge makes things *more* expensive, not less.
What does “Hypermarket” mean?
Why A is correct:
A hypermarket is specifically a massive retail space that blends supermarket groceries with department store clothing, electronics, and household goods all under one roof—designed for one-stop shopping.
Why B is wrong:
This describes a small local grocery store, which is the opposite of a hypermarket. Hypermarkets are known for being *huge* and offering variety, not limited selection.
What does “Net Price” mean?
Correct Answer (A): "Net" means what's left after subtracting things—in this case, the final price you actually pay after removing all discounts and rebates from the original price.
Why B is wrong: That describes the *list price* or *sticker price*, not the net price. The list price is the starting point *before* any reductions are applied.
What does “Payment Option” mean?
Why A is correct:
A payment option is about how the *buyer* pays for something—like choosing to pay by credit card, cash, check, or bank transfer. The buyer decides which method works best for them.
Why B is wrong:
This reverses the roles. The seller doesn't pay the buyer for goods or services (that would be backwards). The buyer pays the seller.
What does “Financial Planner” mean?
Why A is correct:
A financial planner is by definition a trained, credentialed professional who creates comprehensive strategies to help clients achieve goals like retirement, saving, and investment—not just someone giving casual advice.
Why B is wrong:
This describes someone *unqualified* and potentially unethical. Real financial planners have certifications (like CFP), training, and legal responsibilities. An inexperienced person giving financial advice would be the *opposite* of a financial planner.
What does “Frequent Shopper” mean?
Correct Answer: A
"Frequent" means happening often or regularly, so a frequent shopper is someone who shops at a place many times—not just once or twice. These are loyal customers who keep coming back.
Why B is wrong:
"Rarely or never" is the opposite of frequent. That would describe a customer who almost never shops there, not a frequent one.
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