1.01 Vocab

Question 0

Earnings

Answer 0

Money gained from earning

Question 1

Earning

Answer 1

Gaining money by working , own if a business or receiving investment returns

Question 2

Productivity

Answer 2

The amount of goods or services an employee produces

Question 3

Advance

Answer 3

To get a promotion or raise in salary

Question 4

Workplace trend

Answer 4

Direction in which the workplace is moving

Question 5

Workplace opportunity

Answer 5

A chance to get a job, start a career or expand a business.

Question 6

Standard of living

Answer 6

The style of living that a person can afford

Question 7

Market economy

Answer 7

Free enterprise system

Question 8

Gross domestic product

Answer 8

The amount of good and services a nation produces

Question 9

Spending

Answer 9

Using money on goods and services

Question 10

Prosperity

Answer 10

A period in which individuals and businesses are thriving

Question 11

Recession

Answer 11

When the economic growth slows down

Question 12

Supply

Answer 12

The amount of goods and services available

Question 13

Demand

Answer 13

The amount of goods and services a consumer wants to buy

Question 14

Law of scarcity

Answer 14

Limited resources

Question 15

Trade off

Answer 15

Giving up one item for another

Question 16

Opportunity costs

Answer 16

Highest values alternative that must be given up when a choice is made

Question 17

Durable goods

Answer 17

Items with lasting value , form of saving

Question 18

Financial security

Answer 18

Having money to with stand crises or emergencies

Question 19

Credit

Answer 19

Buying now, paying later

Question 20

Interest rate

Answer 20

Percentage of about borrows to be added to the amount loaned and paid back

Question 21

Inflation

Answer 21

A period in which prices for goods and services continue to rise