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business studies- personal finance
business studies- personal finance
22
Economics
10th Grade
05/23/2014

Additional Economics Flashcards

 


 

Cards

Term
income
Definition
earnings of an an individual
Term
foreign exchange trading
Definition
buying and selling currencies to earn a return
Term
commodity trading
Definition
natural resources that are bought and sold to earn a return
Term
managed fund
Definition
an investment pooled with others to earn a return
Term
term deposit
Definition
money saved for a set interest rate over a set period
Term
equities
Definition
shares/stocks by an individual
Term
investment
Definition
putting money into something to make a return e.g. buying shares
Term
budget surplus
Definition
planned income is greater than planned expenses
Term
budget deficit
Definition
planned income is less than planned expenses
Term
Budget
Definition
a plan of income and expenditure
Term
secured loan
Definition
something deposited as a guarantee to fulfil the payment of a loan
Term
unsecured loan
Definition
nothing is deposited as a guarantee to fulfil the payment of a loan
Term
cash purchase
Definition
buy now pay now
Term
credit purchase
Definition
buy now pay later e.g. hire purchase credit card
Term
super annuation
Definition
save for retirement
Term
fixed expenses
Definition
spending that occurs on a regular basis
Term
variable expenses
Definition
spending that occurs on a irregular basis
Term
wage
Definition
amount paid to an employee on an hourly rate
Term
salary
Definition
amount paid to an employee on an annual rate
Term
fee
Definition
money received for services completed e.g. accountant
Term
dividend
Definition
return on a share
Term
commission
Definition
percentage of a sales price received by a sales person e.g. real estate agent
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