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Economics/Financial

Vocabulary words

TermDefinition
budget an organized plan for spending and saving money
charities organizations that help people who are poor, ill, or have special needs
consumer someone who buys a good or a service
cost the amount paid for goods and services based on their value
credit a way to buy something and pay for it later
demand a measure of how desirable goods or services are based on availability and price
earn to work in exchange for payment
earnings net income for a person or company during a time period
financial literacy when you make wise decisions about how to earn, spend, save, and donate your money
goods items produced for sale
human capital the education, skills, knowledge, experience, and abilities that make a person valuable as an employee
income money earned for work people do
interest money you pay when you borrow money, or money you recieve for lending money
labor to work(verb) the group of people who work for a company or business(noun)
needs a requirement; something necessary for life, such as food, water, shelter, and clothing
planned spending paying money for goods and services you expect
producer someone who makes/sells a good or provides a service
resources things used to produce goods and services(natural, human, and capital)
saving putting money aside to use in the future
services activities performd by people or businesses that satisfy other people's wants
spending paying money for goods and services that are available for use
supply the amount of particular goods and services that are available for use
unplanned spending paying money for goods and services you do not expect
wants goods or services that a person my desire, but that are not essential for life such as toys, games, or candy
Created by: willowcreekes
 

 



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