Chapter 1: Income & Careers Flashcards
The alternating periods of growth and decline in the economy.
Business Cycle
The willingness and ability of consumers to buy goods and services
Demand
All of the activities related to making and distributing goods and services in a geographic area or country
Economy
A set of moral values that people consider acceptable
Ethics
A desired outcome based on one’s values for which a plan of action is carried out.
Goal
Measurable physical and mental abilities that allow you to complete a job
Hard skills
An employment specialist who seeks out highly qualified people to fill upper-level positions for an employer
Headhunter
Describes what a job would be like, including tasks performed and skills needed
Job description
A face-to-face meeting with a potential employer to discuss a job opening
Job Interview
Spending time observing a worker in a type of job that interests you
Job Shadowing
People who have known you and can provide information about your job skills, character, and achievements
References
A summary of your work experiences, education, skills, and interests that qualify you for a job opening
Resume
A gift of money or other aid awarded to a student to help pay for education
Scholarship
Unique skills and abilities that you bring to the job
Skill set
A group of friends and acquaintances who keep in contact and share information
Social Network
Nontechnical skills needed by most workers for success on the job
Soft skills
A loan on which interest is not charged until the student graduates
Subsidized student loan
The quantity of goods and services that producers are willing and able to provide
Supply
The expense paid by students for the instruction at a school
Tuition
A principle that reflects the worth you place on an idea or action
Value
The job openings that are available when you are ready to go to work
Job market
Learning as you do the work.
On-the-job training
Learning new skills from reading and practicing on your own
Self-training
Money you receive from an outside source to help pay for education
Financial Aid
Money given to pay for educational expenses that does not have to be repaid
Grant
A person you know, such as a relative or friend
Contact
An employment agency that provides part-time and full-time jobs on a temporary basis
Temp agency
A letter that accompanies a resume, introducing the applicant to a prospective employer
Cover letter
A form that asks basic questions about the applicant’s background, such as work history, education, skills, and references
Job application
Contact with a prospective employer after the interview but before a person is hired for the opening
Follow-up
