Ch 1 Terms Flashcards
Economist
A person who studies the economy/ tries to predict what will happen in the future
Demand
The willingness and ability of consumers to buy products and services. When de,and exceeds supply, prices may be high.
Economy
All the activities related to making and distributing goods and services
Ethics
A system of moral values that people consider acceptable, require being fair and honest in dealing with others.
Financial Aid
Money received from an outside source to help pay for education and training
Goal
Plans based on values or desired outcomes
Hard skills
The ability to preform tasks and procedures ex) install plumbing and run medical equipment
Job description
Gives job details; tasks and duties performed
Job market
The variety of jobs and career choices available to you when you prepare to go to work
Job skills
Specific things you can do that are needed to be successful
Job title
A name given to a particular job that contains a descriptive word or phrase. Ex) accountant, principal
Scholarship
A gift of money or other aid made to a student to help pay for education
Soft skills
Nontechnical skills needed by most workers, ex) teamwork skills, communications skills, problem solving skills
Subsidized student loan
A loan on which interest is not charged until after you graduate
Supply
The quantity of goods and services that producers are willing and able to provide
