Understanding how rising prices affect what you can afford. Vocabulary in this post value noun /ˈvæljuː/ The degree of importance given to something. Examples: "My family places a high value on helping others. " afford verb /əˈfɔːd/ /əˈfoɹd/ To incur, stand, or bear without serious detriment, as an act which might under other circumstances be injurious;—with an auxiliary, as can, could, might, etc.; to be able or rich enough. Examples: "I think we can afford the extra hour it will take. We can only afford to buy a small car at the moment." consumer noun /kənˈsjuːmə/ /kənˈsumɚ/ Someone who trades money for goods or services as an individual. Examples: "This new system favours the consumer over the producer." economy noun /iːˈkɒn.ə.mi/ /iːˈkɑn.ə.mi/ The system of production and distribution and consumption. The overall measure of a currency system; as the national economy. Examples: "The national economy is doing well this year, and that's good news for job growth. " cost noun /ˈkɑst/ /ˈkɒst/ /ˈkɔst/ Amount of money, time, etc. that is required or used. Examples: "The average cost of a new house is twice as much as it was 20 years ago." budget noun /ˈbʌdʒ.ɪt/ An itemized summary of intended expenditure; usually coupled with expected revenue. Examples: "The family's budget shows they expect to earn $3,000 this month and plan to spend $2,500 on rent, $500 on food, and $200 on other expenses. " supply noun /səˈplaɪ/ /ˈsʌpli/ An amount of something supplied. Examples: "A supply of good drinking water is essential."
