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JA BizTown Vocab
JA BzTwn Vocabulary QUIZ
| Term | Definition |
|---|---|
| Human Resources | The labor, skills, & abilities of workers |
| Capital Resources | Things made by people & used to produce goods or offer services |
| Natural Resources | Things that occur naturally in the world & are used to make goods or provide services |
| Entrepreneurship | A person who uses resources to start a business |
| Buying | People can spend their money on things they want |
| Selling | Businesses can sell what consumers want to buy |
| Working | People can choose to work, go to college, or attend a trade school |
| Circular flow | A model of the movement of goods, services, resources, & money in an economy |
| Consumer/Households | People who buy and use goods and services |
| Free enterprise | A system in which economic decisions are made in markets by people and businesses, with little government control |
| Private goods & services | Merchandise and skills offered in markets for a price |
| Public goods & services | Goods and services provided by a government for the use of all people |
| Taxes | Payments that citizens & businesses are required to make to the government to pay for public goods & services |
| Chief Financial officer (CFO) | Chief Financial Officer, person responsible for managing the finances of a business |
| Endorse | write the signature on the back of a check by the person the person receiving the money |
| Income | money earned from work |
| Paycheck | check received for work completed |
| Deposit Ticket | written record of money being put into a checking account |
| Net Deposit | the amount money being deposited minus any cash back |
| Bounced Check | check written for more than what is in the account |
| Check Register | booklet which helps bank customer keep up with money going into and coming out of an account. |
| Personal Check | check written on a personal account rather than on a business account. Usually has name/address |
| Direct Deposit | electronic transfer from one account to another; used by employers for paychecks to employees |
| Interest | fee received or paid, for the use of money (received on savings, paid on loan) |
| Goods | a product that is tangible/touchable, something you can buy and take home with you. |
| Services | something someone does for you, you are paying for a skill it cannot be physically touched. |
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