Exam: BEC Higher

Definition: A tax or fee that is charged on goods brought into a city or area, often collected at the entrance or gate.

Example: The merchants had to pay an octroi before they could sell their goods in the market.

Definition: A person who calculates and sets the odds for betting on events like sports or elections.

Example: The oddsmaker predicted that the home team would win the game.

Definition: A person or entity that proposes something to someone else, usually in the context of a deal or agreement.

Example: The offeror presented a new contract to the client for review.

Definition: A large area of land where oil is extracted from the ground.

Example: The company invested heavily in the new oilfield to increase its production.

Definition: A person or company that is part of a market where a few sellers control the prices and supply of goods or services.

Example: The oligopolist raised prices, knowing that the competition was limited.

Definition: A word that describes something related to a group or system that is structured and organized.

Example: The organization policy was clear and easy to follow.

Definition: A group of people who work together for a specific purpose or goal, often in a structured way.

Example: The organization held a meeting to discuss their upcoming charity event.

Definition: Relating to the structure or arrangement of a group or organization.

Example: The organizational structure of the company helps improve communication and efficiency.

Definition: To flow out or escape from a source, often in a continuous manner.

Example: Water began to outflow from the broken pipe.

Definition: A movement of something, such as water or money, that flows out from a source.

Example: The outflow of water from the reservoir increased after the heavy rain.

Definition: An amount of money that is spent or used for a specific purpose, such as expenses or costs.

Example: The company's outlay for new equipment was higher than expected.

Definition: To spend or distribute money for a specific purpose.

Example: The company decided to outlay a significant amount for the new project.

Definition: To do better than someone or something else in a particular activity or task.

Example: The new model will outperform the previous version in speed and efficiency.