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Financial Literacy

Math unit 9

TermDefinition
Supply The amount of goods available
Demand Consumer willingness and ability to buy products
Interest A sum paid or charged for the use of money or for borrowing money
Budget A plan for making and spending money
Saving setting aside income for a period of time so that it can be used later
Income Earnings from work or investment
Credit An arrangement to receive cash, goods, or services now and pay for them in the future.
Resources All the things used in producing goods and services.
Job a work experience or activity
Borrow To receive for temporary use
Business Plan A detailed plan including the strategies planned to achieve the profit goals.
Profit Money that is left after expenses have been paid for from a business or an investment.