loan, commodity, currency, exchange, income: meanings and examples

Learn these 5 words from Business set 9. Each entry includes a definition, example sentence, pronunciation, and synonyms. Use the interactive cards above to practice them.

1. loan · noun/loʊn/

   an amount of money that is borrowed especially from a bank

   She got a loan to start her own sewing business and she now makes traditional Tunisian wedding dresses that cost up to $3,000.

   Synonyms: allowance, credit

   Origin: Middle English (also denoting a gift from a superior): from Old Norse lán, of Germanic origin; related to Dutch leen, German Lehn, also to lend

2. commodity · noun/kəˈmɑdədi/

   goods that could be bought or sold

   Fuel is becoming a rare commodity in the world, which makes it expensşve each passing day.

   Synonyms: asset, goods, product

   Origin: late Middle English: from Old French commodite or Latin commoditas, from commodus (see commodious)

3. currency · noun/ˈkərənsi/

   paper or coin money of a country

   Making deals in foreign currency allowed tourism sector to survive the economic crisis in 2009.

   Synonyms: none

4. exchange · noun/ɪksˈtʃeɪndʒ/

   the act of giving something in return for something received

   Bitcoin is used in exchange for goods and services where it is accepted.

   Synonyms: noun

   Origin: late Middle English: from Old French eschange (noun), eschangier (verb), based on changer (see change). The spelling was influenced by Latin ex- ‘out, utterly’ (see ex-)

5. income · noun/ˈɪnˌkəm/

   the financial gain over a given period of time

   The average income in the country has nearly doubled in the past ten years, and economic reforms promise to bring more jobs.

   Synonyms: revenue

   Origin: Middle English (in the sense ‘entrance, arrival’, now only Scots): in early use from Old Norse innkoma, later from in + come. The current sense dates from the late 16th century