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SS 4.1-2
Business and Money
Term | Definition |
---|---|
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 |