IELTS, TOEFL & PTE Focus: Economy & Consumerism Collocations with Exercises

Economy & Consumerism 💰

Economy and consumerism are highly relevant topics in IELTS, TOEFL, and PTE exams, especially in Writing Task 2 essays and Speaking Part 3 discussions. Questions related to spending habits, saving culture, global trade, local businesses, consumer rights, and advertising frequently appear. To excel, candidates need to demonstrate mastery of accurate economic and consumerism collocations instead of relying on simple words. This post offers a comprehensive list of collocations alongside practical exercises and activities to help learners improve their Writing and Speaking performance.

Spending habits and saving

• disposable income → Higher disposable income often boosts consumer spending.
• saving culture → A strong saving culture helps households cope with shocks.
• consumer spending → Consumer spending is a key driver of short-term growth.
• financial planning → Early financial planning improves long-term security.
• economic recession → During an economic recession consumers cut back on luxuries.
• rising living costs → Rising living costs squeeze household budgets and savings.
• household budget → Maintaining a household budget helps track expenses effectively.
• excessive consumption → Excessive consumption contributes to environmental degradation.
• saving schemes → Government saving schemes incentivize long-term investment.
• purchasing power → Inflation erodes purchasing power over time.

Global trade and local businesses

• international markets → Access to international markets expands opportunities for exporters.
• trade agreements → Trade agreements can lower tariffs and stimulate exports.
• import-export balance → A sustainable import-export balance stabilizes the currency.
• small enterprises → Small enterprises form the backbone of local economies.
• local economy → Buying local supports the local economy and jobs.
• global supply chain → Disruptions in the global supply chain affect production schedules.
• economic growth → Export growth contributes to faster national economic growth.
• free trade policies → Free trade policies are debated for their local impact.
• domestic industries → Domestic industries sometimes need protection to mature.
• multinational corporations → Multinational corporations influence global pricing and standards.

Consumer rights and advertising

• false advertising → Consumers can take action against false advertising claims.
• product quality → Strict standards protect consumers by ensuring product quality.
• customer satisfaction → Customer satisfaction drives repeat purchases and referrals.
• refund policies → Clear refund policies increase consumer confidence in purchases.
• consumer awareness → Consumer awareness campaigns teach people about their rights.
• unfair trade practices → Regulators investigate unfair trade practices to protect buyers.
• ethical marketing → Ethical marketing builds long-term trust with customers.
• misleading information → Advertising regulators ban misleading information in promotions.
• legal protection → Legal protection for consumers varies across different jurisdictions.
• advertising standards → Advertising standards ensure commercial messages are truthful.

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