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Economy Vocab

Economic vocab

TermDefinition
Goods products and materials that people want.
Intermodal transportation involving more than one form of carrier, such as truck and rail, or truck, ship and rail.
Services actions people perform for economic benefit
Entrepreneur a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Profit the amount of money an entrepreneur or business earns after paying their expenses
Economic Impact the effect that an event, policy change, or market trend will have on economic factors such as interest rates, consumer confidence, stock market activity, or unemployment.
Revenue a state's annual income from which public expenses are met
Expenditure an amount of money spent, as a whole or on a particular thing.
Income the amount of money a person earns during a year.
Investing using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits.
Saving setting aside of income for future use.
Spending the amount a person purchases
Budget a plan for spending
Debt an amount of money borrowed by one party from another party
Bankruptcy a legal proceeding involving a person or business that is unable to repay outstanding debts
Credit an amount of money loaned to a person that must be paid back along with additional interest
Interest - an additional amount you pay to use borrowed money.
Arthur Blank cofounder of the Home Depot corporation and the owner of the Atlanta Falcons football team and Atlanta United soccer team
Truett Cathy founder and chairman of the Chick-fil-A restaurant chain
Asa Candler founder of the Coca-Cola Company, a banker and real estate developer and noted for his philanthropy
Created by: aburke18