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SS 4.1-2

Business and Money

TermDefinition
employee a person who gets paid to work for someone else
producer a person who makes, grows, or supplies goods or services
consumer a person who buys goods or uses a service
profit money a business makes after paying for tools, employees, and other expenses
economy the way a place uses its money, goods, natural resources, and services
budget a plan for using money
expense something people spend money on
income the amount someone receives for working
opportunity cost the value of the thing you give up when you choose one thing instead of another
savings account money a person keeps in a bank
Created by: khoward3
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