Ch. 1 Choices That Affect Income

Question 0

Job skills

Answer 0

Specific things you can do that are needed to be successful

Question 1

Job market

Answer 1

The variety of jobs and career choices available to you when you prepare to go to work (continues to change)

Question 2

Job title

Answer 2

A name given to a particular job that contains a descriptive word or phrase

Question 3

Job description

Answer 3

Gives job details

Question 4

Lifelong learning

Answer 4

Updating you job skills by continuing to learn throughout your life

Question 5

Values

Answer 5

Show the worth placed on ideas or actions, influence choices made

Question 6

Goals

Answer 6

Plans based on values or desired outcomes

Question 7

Formal education

Answer 7

Involves attending classes where students learn skills/concepts

Question 8

Informal education

Answer 8

On-the-job training

Reading and practicing on your own

Question 9

Economy

Answer 9

All the activities related to making and distributing goods and services

Question 10

Economists

Answer 10

Person who studies the economy

Tries to predict what will happen in the future

Question 11

Supply

Answer 11

Quantity of goods and services that producers are willing and able to provide

Question 12

Demand

Answer 12

Willingness and ability of consumers to buy products and services when demand exceeds supply, prices may be high

Question 13

When economy is growing…

Answer 13

People buy more goods and services
Jobs are being created
Finding and keeping a job is easier

Question 14

When economy is slowing…

Answer 14

People buy fewer goods and services
Jobs are decreasing in number
Finding and keeping a job is harder

Question 15

Hard skills

Answer 15

Ability to perform tasks and procedures

Question 16

Soft skills

Answer 16

Nontechnical skills needed by most workers

Question 17

Tuition

Answer 17

The charge for instruction at a school

Question 18

Financial aid

Answer 18

Money received from an outside source to help pay for education

Question 19

Loan

Answer 19

Money that you borrow that you must pay back

Question 20

Grant

Answer 20

Money that you are given to pay for education that does not need to be payed back

Question 21

Job scouts

Answer 21

Computer program look for jobs using options you select

Question 22

Subsidized student loan

Answer 22

A loan on which interest is not charged until after you graduate

Question 23

Unsubsidized loan

Answer 23

Interest is charged from the time the loan is made

Question 24

Scholarship

Answer 24

Gift of money or other aid made to a student to help pay for education

Question 25

Ethics

Answer 25

System of moral values that people consider acceptable

Require being fair and honest in your dealing with others