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using money to purchase goods and services |
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Choices because of unlimited needs and wants |
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The highest-valued alternative |
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The choice of one item while giving up another |
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researching and planning purchases in advance |
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putting aside money for later use |
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forming the habit of saving regularly |
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obtaining money, goods, or services at present in exchange for the promise of future payment |
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borrowing only what can be paid back when due |
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The amount of goods/services an employee produces |
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To get a promotion and/or raise in salary |
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A direction in which the workplace is moving |
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A chance to get a job, advance in a career, or start or expand a business |
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The style of living that a person can afford |
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The total output of goods and services in a nation |
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The amount of goods/services consumer want to buy at any point in time |
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The amount of goods/services available at any point in time |
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A period in which individuals/businesses are financially successful and thriving |
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An economic period of six months or more when growth is slowed down |
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The amount of money people save |
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Having enough money saved to be able to withstand crises and emergencies |
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Borrowing; buying now, paying later |
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Percentage of amount borrowed |
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involves realizing that career choices greatly affect lifetime earnings |
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