Term
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Definition
| gaining money by working, owning a business, or reveiving investment returns |
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Term
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Definition
| money gained from earning |
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Term
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Definition
| the amount of goods/services an employee produces |
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Term
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Definition
| to get a promotion and/or raise in salary |
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Term
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Definition
| a direction in which the workplace is moving |
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Term
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Definition
| a chance to get a job, advance in a career, or start or expand a business |
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Term
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Definition
| the style of living that a person can afford, according to his/her income |
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Term
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Definition
| a free enterprise system in which consumers respond to the economy as they wish in their earning, spending, saving, and borrowing |
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Term
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Definition
| the total output of goods and services in a nation |
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Term
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Definition
| showing a responsible approach to choices, considering obligations to others |
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Term
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Definition
| using money to purchase goods and services |
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Term
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Definition
| a period in which individuals/businesses are financially successful and thriving |
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Term
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Definition
| an economic period of six months or more when growth is slowed down |
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Term
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Definition
| the amount of goods/services available at any point in time |
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Term
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Definition
| the amount of goods/servies consumer want to buy at any point intime |
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Term
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Definition
| individuals, families, businesses and nations have limited resources with which to meet the unlimited needs and wants of consumers/citizens |
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Term
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Definition
| the choice of one item while giving up another |
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Term
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Definition
| the highest-valued alternative that must be given up when a choice is made |
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Term
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Definition
| putting aside money for later use |
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Term
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Definition
| items with lasting value, the purchase of whice is considered a form of savings |
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Term
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Definition
| the amoutn of money people save in an economy |
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Term
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Definition
| hsving enough money saved to be able to withstand crises and emergencies |
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Term
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Definition
| obtaining money, goods, or services in exchange for promise of future payment |
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Term
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Definition
| borrowing; buying now, paying later |
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Term
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Definition
| percentage of amount borrowed to be added to the amoutn loaned and paied back |
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Term
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Definition
| a period in which demand for goods/services is high and prices continue to rise |
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