A particular measure of a country’s economic activity, used to predict near future economic trends.

A graph depicting the rate at which a person learns a new skill. A steep learning curve shows that a person is learning quickly, and a shallow learning curve means that a person is slower and taking more time to learn.

A finance agreement in which an item, usually a car, is leased for a certain period of time with an option to purchase at the end of the contract.

An arrangement between a purchaser of a property and the vendor in which the vendor immediately leases the property back from the purchaser.

The period of time which a person is permitted by their employer to be absent from their job.

Legal assistance provided , usually by the state, for people or organisations who cannot afford to pay for solicitors or legal advice.

An individual or organisation who has the legal right to enter into a contract or an agreement, is responsuble for its actions, and can sue or be sued if the terms of the contract are broken.

The minimum amount of money, required by law, that a bank, insurance company, etc., must set aside in order to be able to operate.

A defective product which is poor quality and fails to function as promised. Particularly used in the automotive industry, specifically for a poor-quality second-hand car, or a sub-standard new vehicle.

A country’s central bank which loans money to other banks or financial institutions which cannot borrow money from anywhere else and do not have enough reserves to cover cash withdrawals by their customers.