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Unit A Vocabulary

Unit A: Why Do I Need A Job?

TermDefinition
LIFESTYLE FACTORS THINGS ABOUT YOUR JOB THAT AFFECT THE WAY YOU LIVE YOUR LIFE
TRADE-OFF A COMPROMISE, OR GIVING UP ONE THING IN ORDER TO GET SOMETHING ELSE
NEED SOMETHING YOU CANNOT LIVE WITHOUT
WANT SOMETHING YOU DESIRE
MOTIVATOR SOMETHING THAT CAN ENCOURAGE YOU TO SET GOALS AND MAKE DECISIONS
VALUE A MEASURE OF THE QUALITY OR IMPORTANCE OF SOMETHING
ECONOMICS THE STUDY OF THE WAY PEOPLE USE RESOURCES TO ACHIEVE THEIR NEEDS AND WANTS
LABOR MARKET ANY SITUATION IN WHICH WORKERS COMPETE FOR JOBS AND EMPLOYERS COMPETE FOR WORKERS
UNEMPLOYMENT RATE THE PERCENTAGE OF UNEMPLOYED PEOPLE LOOKING FOR JOBS
JOB SECURITY KNOWING THAT YOU WILL ALWAYS HAVE A JOB AND RECEIVE A PAYCHECK
COST OF LIVING THE AMOUNT OF MONEY YOU NEED TO SUSTAIN A CERTAIN LIFESTYLE
BUREAU OF LABOR STATISTICS FEDERAL GOVERNMENT AGENCY THAT MEASURES LABOR MARKET ACTIVITY, WORKING CONDITIONS, PRICE CHANGES, AND PRODUCTIVITY IN THE U.S. ECONOMY
INCOME MONEY RECEIVED FOR WORK OR THROUGH INVESTMENTS
SALARY PAYMENT OF AN AGREED ANNUAL (YEARLY) AMOUNT; DEPENDABLE INCOME EACH MONTH. MORE LIKELY TO INCLUDE PAID SICK AND PAID VACATION TIME
MINIMUM WAGE THE LOWEST WAGE PERMITTED BY LAW
WAGE PAYMENT BASED ON THE NUMBER OF HOURS WORKED; USUALLY DOES NOT INCLUDE PAID VACATION OR PAID SICK DAYS
LIVING or LIVEABLE WAGE THE MINIMUM INCOME NECESSARY FOR SOMEONE TO MEET THEIR BASIC NEEDS
POVERTY WAGE AN HOURLY WAGE THAT WOULD LEAVE A FULL-TIME WORKER BELOW THE FEDERAL POVERTY GUIDELINE FOR THEIR FAMILY SIZE
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