A Team Flashcards
To win
1
Q
direct trade or exchange of good without pay
A
barter
2
Q
comparing two things without like or as
A
metaphor
3
Q
force of attraction between all objects
A
gravity
4
Q
sum or percentage paid to an agent for his services
A
commission
5
Q
numbers added together
A
addends
6
Q
term for king or queen
A
monarch
7
Q
scientist .. objects at rest stay at rest and objects in motion stay in motion
A
Isaac Newton
8
Q
part of speech to take place of a noun
A
pronoun
9
Q
digit in the hundreds is how many times less than a digit in the hundred thousands
A
1,000
10
Q
failure to pay a loan when payment is due
A
default
11
Q
social students term in colonial america learning a trade
A
apprentice
12
Q
family of violin
A
string
13
Q
three forms of precipitation
A
snow, sleet, hail, rain, dew, frost
14
Q
algebraic term for 6 times a number , R decrease by 12
A
6r -12
15
Q
state of matter with no definite shape or volume
A
gas
16
Q
something that produce light, heat, motion
A
energy
17
Q
two word term defined as the amount of money earned in a pay period before any taxes or payroll deductions have been subtracted
A
gross income
18
Q
two factors that affect how bright a star is
A
distance, size,
19
Q
(6 + w ) X 3 w = 4
A
30
20
Q
figure of speech .. first consonant
A
alliteration
21
Q
nine letter work that means variety of people
A
diversity
22
Q
economic term buying products from other countries
A
import
23
Q
greek roots
A
bio - life, tele- distant, scope- see and graph- write
24
Q
Tree roots cracking foundation
A
weathering
25
US branch of government that makes laws
legislative
26
number of players in a bass trio
3
27
product of 324 and 15
4860
28
supply of product or products on hand
inventory
29
volume of a rectangular prism is 108 cubic feet
| Determine the feet the height of the prism give that has a length of 4 feet and width 3
9
30
105 minutes is equivalent to what amount of time
1 hour, 45 minutes; 1 3/4 hour, 6300 seconds
31
multiple meaning word the teacher uses: in math, the square ___ and in science provide stems and leaves with water
root
32
water cycle is evaporated and then released from the cloud
precipitation
33
geographical term distance measured by degrees or time east or west of prime meridian
longitude
34
forces are balanced
do not cause a change in direction
35
statement adopted by the Second Contintental Congress explaining why the colonies wanted independence from Britain
Declaration of Independence
36
steps in the writing process
plan,draft,revise,edit
37
one or ones not renewable forms of energy
limestone, coal nonrenewable
38
not human features of geography
mountains, climate
39
prefixes correctly matched
anti-against; mono-one, auto- self
40
unprocessed natural products used in the production of final goods and services
raw materials
41
amount of money being borrowed before interest
principal
42
wise use of natural resources
conservation
43
large supply of resources
abundant resources
44
money available to a client at a bank
account
45
the method of informing consumers about a good or service
advertisement
46
one who advertises
advertiser
47
alternative cost
opportunity cost
48
choices
alternatives
49
the interest rate or the cost of credit for one year
APR Annual Percentage Rate
50
an arrangement in which a product is assembled by workers
assembly line
51
atm
Automatic Teller Machine
52
Available Credit
the preset amount of credit available on a credit card
53
average earnings of persons in a specific market area
average per capita income
54
average earning of families in a a specific market area
average per family income
55
a business that stores money and exchanges and lends money
bank
56
anything that is helpful or advantageous
benefit
57
to use money belonging to another person or financial institution, usually by agreeing to pay interest for the use of money
borrow money
58
a plan for use of time, money, and resources
budget
59
a basic economic unit; an organization involved in the buying of and hiring of resources to produce a good or service with the intention of making a profit
business
60
a professional who systematically manages the tasks of business to achieve success
business planner
61
one of the factors of production; man made resource used in production
capital
62
goods made by people
capital resources
63
an economic systems based on private ownership of property
capitalism
64
interest paid to a business when the firm allows one to purchase goods or services on credit
carrying charge or finance charge
65
coins, currency
cash
66
a written order to a bank to pay a certain amount of money from one person's account to a business or some other person
check
67
a bank, credit union or other financial institution account that is available on demand
checking account
68
what someone must make when faced with two or more alternative uses fro a resource
choice
69
a model or an economy showing the interactions between households and business firms as they exchange goods and services
circular flow
70
a piece of metal stamped with a design
coin
71
the efforts of two or more businesses to secure the consumer's business
competition
72
a market in which there are many buyers and sellers
competitive market
73
interest paid upon money deposited in an account and also on all the interest already earned by the deposit
compound interest
74
to buy or use good and or services
consume
75
people or businesses whose wants are satisfied by using goods or services
consumers
76
tangible objects
consumer goods
77
chartered by the state, a business that operated as a legal entity separate from its owner
corporation
78
a person who shares the responsibility of the loan with the primary borrower
co signer
79
the maximum amount that a borrower can borrow on a particular loan or credit card
credit limit
80
the full price one pays for a good or service if one buys it on credit
credit price
81
a measure of a borrower's credit worthiness based on the borrower's resources and character
credit rating
82
a company that gathers information about the credit history
credit reporting agency
83
a cooperative group that holds savings and makes loans to its members
credit union
84
standards used for making a decision
criteria
85
the total price of the product or service plus the finance charge
deferred payment price
86
a schedule or how much consumers are willing and able to buy at all possible prices during some time period
demand
87
component of the money supply; a deposit in a financial institutional account that may be withdrawn or transferred to another person or business upon demand for example writing a check or using a debit card
demand deposit
88
statistical characteristics of populations such as age, income, gender
demographics
89
the act of putting money into an account in bank or other financial institutions or the sum of money put into the bank or
deposit
90
the yearly decline in the value of something
depreciation
91
income not committed to a particular use and can be used flexibly on whatever someone what to purchase
disposable income
92
the part of the productive process in which a good is transported to a geographical location where it can be used to satisfy the wants and needs of consumers
distribution
93
one who is involved in the process of distribution
distributor
94
the process whereby worked perform only a single task or very few steps of a major production task
division of labor
95
goods with a long useful life (at least three years)
durable good
96
the way a society organizes the production, consumption and distribution of goods and services
economic system
97
not wasteful
economical
98
the study of how people make choices about the best use of scarce resources
economics
99
making the best possible use of scarce resources
efficient
100
a sudden, urgent, unexpected occurence
emergency
101
one who organizes and manages resources
entrepreneur
102
assuming risks of owning your own business
entrepreneurship
103
the market clearing price at which the quantity demanded by buyers equals the quantity supplies by sellers
equilibrium price
104
trading a good or service for another good or service for money
exchange
105
selling our country's products to another nation
export
106
land, labor, capital
factor inputs
107
resources used by business to produce goods and services: land, labor, capital and entreprenuership
factors of production
108
FDIC
Federal Deposit Insurance Corporation
109
FICA
Federal Insurance Contributions Act - name of the law that provides for deductions to be taken from the wages of citizens and invested by the government to pay Social Security Benefits
110
Federal Reserve Note
paper currency.. printed and distributed by the Federal Reserve Bank of the United States and the value is guaranteed
111
FTC
Federal Trade Commission - prevents unfair competition
112
fee
a charge to the customer by the bank for a service
113
Final goods and services
goods and services sold to person who will consume them
114
finance charge
the cost of credit
115
financial risk
the exposure of assets and money belonging to an individual or a business to the possibility of loss by undertaking a business venture
116
firm
business
117
food energy
energy received by the body from food used for motion and heat
118
giving up a security deposit when lease obligation are not met
forfeiture
119
fuels formed underground from once living things; coal, oil and gas
fossil fuels
120
a good for which the market price is zero
free good like air (it is important for us to have but since there is so much of it, we don't have to pay for it )
121
functions of money
medium of exchange to buy goods and services,
a measure of value
a store of value
122
future consumption
the purpose of saving now in order to have resources later
123
objects that can be held or touched that can satisfy people's wants
goods
124
government
form or system of rule by which a nation, state, or city is governed
125
government income
net taxes
126
homogenous product
a product in which every unit is just like every other unit
127
human resources
the quantity and quality of human effort directed toward producing goods and services... labor
128
buying products from other countries
import
129
producing goods in our country to replace good being imported from other countries
import substitution
130
factors that motivate and influence the behavior of households and businesses. Prices, profits and losses act as incentives for participants to take action
incentives
131
money received by households in return for the use of resources they own or money earned by factors or production
income
132
taxes paid to the government ( federal, state, and local)
income tax
133
inflation
a general increase in the price of goods and services
134
property or money received from an estate or through a will
inheritance
135
input
resources used to product a good or service
136
installment
required payments of equal amounts, every month until the loan is paid in full
137
insurance
protection against risk of large losses
138
interdependence
dependence on others for good and services; example wisconsin..cheese, Florida.. citrus
139
interest
the amount of money paid to a customer by the bank for keeping the customer's money; also called finance charge or carrying charge
140
intermediate good
good that will be further processed for resale.Example: sheet metal and glass are intermediate goods for automobile companies
141
inventory
a supply of a products on hand
142
investment
the use of money to product income or profit
143
a bank account shared by two
joint account
144
land
one factor of production; natural resources and real estate
145
limited resources
scarce resources
146
liquidity
ability to convert an asses into cash easily and quickly
147
loss
negative difference between cost and sale price; opposite of profit
148
management
the process of organizing and utilizing resources to produce goods and services
149
managerial ability
the skill needed to organize goods and services
150
market
a specified category of potential buyers
151
market economy
the economic system in which most goods and services are exchanged through private transactions
152
media
the means of communication by tv, radio, newspapers
153
merchandise
goods that someone wants to sell
154
microeconomics
the study decision of individuals economic units like families and people.. answers what, how and for whom in a market system
155
minimum balance
the amount of money required to be kept in an account in order to avoid a service charge
156
minimum wage
lowest legal hourly wage
157
mint
facility where coins are minted
158
money
a medium or exchange; a good that can be used to buy other goods or services
159
money income
the dollar amount of income
160
monopoly
one seller that has control over the entire chain of supply
161
mortgage
a loan secured to purchase real estate
162
natural monopoly
like an electric company ... electric is generated on a large scale better than small scale... needs governmental regulations
163
natural resources
gifts of nature; coal, timber, water
164
needs
desires felt by consumers; good, clothing, shelter
165
net income
take home pay; the actual amount of money received after taxes and other payroll deductions have been subtracted from gross income
166
non durable good
good that have a short life -- socks, light bulbs, hamburgers
167
non renewable resources
coal, oil , gas once they are used .. gone forever
168
opportunity costs
the next best alternative
169
output
the product quantity or amount product with a given input
170
partnership
legal organization of a business with more than one person owning/managing the business
171
perfect competition
market where many buyers and sellers; homogenous product and freedom of entry and exit
172
performer
one who carries out an action or fulfills or discharges his duty or command
173
price
the value of a good or service stated in money terms
174
principal
the actual amount of money being borrowed before interest
175
private property
property owned by one person or group of people
176
producers
people who use resources to make goods and services
177
product
tangible, man made object
178
production
the process of using resources to make goods
179
productive capacity
ability to produce goods and services; maximum potential
180
profit
the difference between total revenue and total cost
181
progressive tax
a tax that increases with income of the taxpayer
182
property
something tangible that one owns
183
public goods and services
goods and services provided by the government like highways and highway maintenance
184
quality
the degree of excellence
185
quanitity
the amount of product
186
raw materials
unprocessed natural products like iron ore is used to make automobiles
187
real income
purchasing power of money income...if someones income doubles and the price of the object doubles, real income is not changed
188
real value of money
buying power
189
real wage
real income
190
regressive tax
tax that falls more heavily on persons with low incomes
191
rent
money payments for use of a house, land, or some other property
192
resume'
a summary of a person's education, experience and work skills used when someone is looking for a job
193
repossession
the act of a creditor taking back a product purchased on credit because the buyer has defaulted on the loan
194
retirement
the state of no longer being involved in performing one's business or profession
195
right to private property
the right of individuals to own and control their own property
196
rivalry
two or more producers seek to gain a larger market share by providing consumers with lower prices,higher quality or differentiated product
197
sacrifice
to give up something of value for the sake of something else
198
salary
a fixed wage
199
sales tax
taxes paid on the goods and services people buy
200
save
opposite of spend
201
savings
the portion of income that is not spent for consumer goods or services
202
savings account
an account in a financial institution where a person deposits that part of his income that he chooses not to spend at the present time
203
savings and loan institution
like a bank but primarily function storing money in savings accounts and lending money for homes
204
scarce resources
resources in short supply
205
scarcity
the condition of not being able to have all the goods and services that one wants
206
scarcity problem
resources are limited so consumers need to make choices
207
service charge
an additional cost or fee for the privelegeof purchasing a good or service
208
services
activities that can satisfy peoples want or needs like hairstyling,
209
Sherman Antitrust Act
The federal law passed by Congress in 1890 prohibiting monopolies or conspiracies to monopolize
210
shortage
quantity demanded is smaller than the quantity supplied
211
silver certificate
paper currency printed by US ( no longer issued) backed by quanity of silve r
212
social goods
goods and services that if given to one benefit others like streetlights
213
specialization
dividing work among people so each person does one job ( well)
214
store of value
functions of money
215
substitute goods
goods that are substituted like Coca cola and pepsi
216
substitute resources
a resource that takes the place of another resource when the latter is unavailable or gets too expensive
217
surplus
quantity supplies exceeds quantity demanded
218
tax revenue
the amount of money received by the government as a result of imposing taxes
219
technolgy
the scientific and mechanical skill and knowledge used in producing goods and services
220
teller
an employee at a bank who job it is to take deposits and payout withdrawls
221
time deposit
a deposit into a savings account
222
tips
small gifts or money for service; To Insure Promptness
223
title
the legal ownership of an asset
224
trade
the purchase, sale or exchange of goods or services
225
trade off
giving up one thing to get another
226
transfer payment
payments to a person that not payments for the use of a resource in production ; welfare payment
227
transportation
the act of moving goods and services from one geographic location to another
228
truth in lending law
a federal law that requires the creditors to tell the Annual Percentage Rate, finance charges, and deferred payments for an item purchased on credit
229
unemployment
the situation in which people are willing and able to work at current wages, but do not have a job
230
unlimited wants
people wanting more than they need
231
value
worth
232
venture
a business undertaking involving chance or risk
233
wages
payment made to those who supply the labor
234
wants
desires
235
wealth
anything that a person owns that has value and is capable of making money
236
withdrawl
the act of taking money out of a bank
237
withholding tax
a tax deducted from gross income for the purpose of paying federal income tax benefits as a person earns income
