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Economy Vocab
Economic vocab
Term | Definition |
---|---|
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 |