OliviaL@Chap20-22 Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Term | Definition |
Disposable Income | money income left after all taxes on it have been paid |
Discretionary Income | money income left after necessities been bought and paid for |
Consumerism | movement to educate buyers about the purchases they make and to demand better and safer products from manufacturers |
Comparison Shopping | buying strategy to get best buy for the money |
Warranty | the promise made by manufacturer or a seller to repair or replace a product within a certain time period if its faulty |
Credit | money borrowed to pay for a good or service |
APR | annual cost of credit expresses as a percentage of the amount borrowed |
Collateral | property or valuable item serving as security for a loan |
Bankruptcy | inability to pay debts |
Interest | payment people receive when they lend money or allowed someone else to use their money |
Principal | the most important |
Return | profit earned through investing |
Stock | ownership share of a corporation |
Divided | payment of portion of a company's earnings |
Bond | contract to repay borrowed money with interest at a specific time in the future |
Mutual Fund | pools of money from many people who are invested in a selection of individuals stocks and bonds chosen by financial experts |
Evaluate | to assess or find value of |
Demand | the desire willingness and ability to buy a good or service |
Law of Demand | concept that people are normally willing to buy less of a product if the price is high and more of it the price is low |
market of demand | the total demand of all consumers for a product or service |
utility | amount of satisfaction one gets from a good or service |
Marginal utility | additional use that is derived from each unit acquired |
Substitute | a competing product that consumers can use in place of another |
complement | product often used with another product |
Demand Elasticity | measure of responsiveness relating changes in price |
supply | amount of goods or services that producers are able and willing to sell at various prices during a specified time period |
law of supply | the principle that supplies will normally offer more for sale at higher prices and less at lower prices |
profit | money a business receives for its products or services over and above its cost |
market supply | total of all the supply schedules of all the business that provide the same good or services |
subsidy | government payment to an individual business or a group in exchange for certain actions |
supply elasticity | responsiveness of quality supplied to a change in price |
equilibrium price | price at which the amount producers are willing to supply is equal to the amount consumers are willing to buy |
price ceiling | maximum price that can be charged for goods and services set by the government |
price floor | minimum price that can be charged for goods and services set by the government |
sole proprietorship | a business owned and operated by a single person |
financial capital | money used to buy the tools and equipment used in production |
articles of partnership | formal legal papers specifying the arrangements between partners |
corporation | business organization owned by many people but treated by law as though it were a person |
charter | written document granting land and the authority to set up colonial government |
stock | ownership share of a corporation |
stockholder | individual who was invested in a corporation and owns some if its stock |
board of directors | people elected by the shareholders of a corporation to act on their behalf |
cooperatives | a voluntary association of people formed to carry on some kind of economic activity that will benefit its members |
labor union | association of workers organized to improve wages and working conditions |
right to work law | state laws forbidding unions from forcing workers to join |
collective bargaining | process by which unions and employees negotiate the conditions of employments |
mediation | situation in which union and company officials bring In a third party to try to help them reach an agreement |
arbitration | situation in which union and company officials submits the issues they cannot agree on to a third party for a financial decision |
transparency | process of making business deals more visible to everyone |
social responsibility | obligation a business has to pursued goals that benefits society as well as themselves |
Created by:
olivialocklear
Popular History sets