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TExES History

Economics Vocabulary

TermDefinition
Commercial Bank vs. Investment Bank Commercial Bank-our bank (checking, savings, home loans) Investment Bank-more for business (stocks/bonds); where companies can merge
Bonds/Certificates Certificates sold by the companies or government to raise money to be used by the bank/govt. Issued for a specific amount of time.
Credit Borrowed money for a car, home loan, or credit card. The loaner must pay interest for borrowed money.
Depression A period of time when the economy is poor and people are without a job.
Dow Jones Industrial Average "Dow Jones" Indicator of how the stock market is doing based on the Top 30 companies. When their stocks are up, the Dow Jones indicator is up.
Economy The way a country manages its money and resources (such as workers and land) to produce, buy, and sell goods and services.
FDIC Federal Deposit Insurance Corporation-1933; created after the Great Depression to insure customers' deposits
Federal Reserve "Fed" The USA's bank. It is used by other banks and the federal government.
Foreclosure Homeowners lose their property to the bank because they fail to make their mortgage payments.
Interest The fee for using someone else's money. If you have a Bond/Certificate or Savings acct. and the bank is using your money, they will pay an interest amount for using your money.
Interest Rate The percentage that is paid or charged for using someone else's money.
Investment Anything purchased that you hope will make more money in the future. (a house or property)
Layoff The loss of a job when a company cuts costs. (the pink slip)
Loan/Lend Money borrowed from a bank or lender (home loan or car loan)
Mortgage A loan used to buy a house.
National Debt The amount of money a country owes. US has the highest debt in the world.
Personal Debt The amount of money an individual owes.
Recession A DROP in economic growth that last for at least 6 months.
Regulations Rules passed by the government to monitor banks, stock markets, and other financial institutions. (example: Martha Stewart went to prison because she pulled out her money from a stock that was going down.)
Savings Money in the account so it can grow. The bank pays interest for using the money while it is in the savings account.
Stocks You buy stocks in a company. The stocks are your money invested in the company that the company used to make more money. In part, you own a tiny part of that company. If the company is doing well, you make money; if the company isn't, you lose money
New York Stock Exchange (NYSE) You buy or sell stocks of companies usually through a stock broker or your job.
Taxes Money paid to the government, state or city to pay for government, state, and city needs. (roads, parks, law enforcement, fire department)
Income Tax Federal (IRS) and State taxes paid to maintain the government
City Tax, County Tax, School Tax Taxes paid to maintain the city, county and schools
Treasury Department Collects and Distributes Money for the country; Collects taxes through IRS (Internal Revenue Service); Distributes money through the U.S. mints which make the money
Unemployment The percentage of people out of a job and looking for work.
Unemployment Benefits An unemployed person can collect about 1/3 of the money they were earning while they are unemployed.
Created by: cebarr
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