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Financial Terms 7th
7th grade FCS
| Question | Answer |
|---|---|
| a careful plan for spending or saving money received within a certain amount of time | budget |
| the result of a decision; a logical conclusion | consequence |
| an arrangement for making payment for a purchase later | credit |
| owing money for items or services purchased on credit | debt |
| the act of making up one's mind | decision-making |
| the idea that people can invest money in a business to try to earn a profit | free-enterprise |
| total income before taxes are deducted | gross income |
| a certain sum of money that will be paid in case of loss by events such as flood, fire, accident, theft or death | insurance |
| a charge for a loan, usually a percentage of what is borrowed | interest |
| a person's preferred activities or hobbies | interests |
| income after all taxes have been deducted | net income |
| the next best alternative given up when a choice is made | opportunity cost |
| the chance of losing, failing or getting hurt | risk |
| the special qualities each person has, including skills, interests and values | self-knowledge |
| a person's talents or abilities | skills |
| a person's beliefs and ideals | values |
| a classification of all jobs into one or more of four categories: People, Data, Things, Ideas | world of work |
Created by:
lyssa720
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