Chapter 1: Income & Careers

Question 1

The alternating periods of growth and decline in the economy.

Answer 1

Business Cycle

Question 2

The willingness and ability of consumers to buy goods and services

Answer 2

Demand

Question 3

All of the activities related to making and distributing goods and services in a geographic area or country

Answer 3

Economy

Question 4

A set of moral values that people consider acceptable

Answer 4

Ethics

Question 5

A desired outcome based on one’s values for which a plan of action is carried out.

Answer 5

Goal

Question 6

Measurable physical and mental abilities that allow you to complete a job

Answer 6

Hard skills

Question 7

An employment specialist who seeks out highly qualified people to fill upper-level positions for an employer

Answer 7

Headhunter

Question 8

Describes what a job would be like, including tasks performed and skills needed

Answer 8

Job description

Question 9

A face-to-face meeting with a potential employer to discuss a job opening

Answer 9

Job Interview

Question 10

Spending time observing a worker in a type of job that interests you

Answer 10

Job Shadowing

Question 11

People who have known you and can provide information about your job skills, character, and achievements

Answer 11

References

Question 12

A summary of your work experiences, education, skills, and interests that qualify you for a job opening

Answer 12

Resume

Question 13

A gift of money or other aid awarded to a student to help pay for education

Answer 13

Scholarship

Question 14

Unique skills and abilities that you bring to the job

Answer 14

Skill set

Question 15

A group of friends and acquaintances who keep in contact and share information

Answer 15

Social Network

Question 16

Nontechnical skills needed by most workers for success on the job

Answer 16

Soft skills

Question 17

A loan on which interest is not charged until the student graduates

Answer 17

Subsidized student loan

Question 18

The quantity of goods and services that producers are willing and able to provide

Answer 18

Supply

Question 19

The expense paid by students for the instruction at a school

Answer 19

Tuition

Question 20

A principle that reflects the worth you place on an idea or action

Answer 20

Value

Question 21

The job openings that are available when you are ready to go to work

Answer 21

Job market

Question 22

Learning as you do the work.

Answer 22

On-the-job training

Question 23

Learning new skills from reading and practicing on your own

Answer 23

Self-training

Question 24

Money you receive from an outside source to help pay for education

Answer 24

Financial Aid

Question 25

Money given to pay for educational expenses that does not have to be repaid

Answer 25

Grant

Question 26

A person you know, such as a relative or friend

Answer 26

Contact

Question 27

An employment agency that provides part-time and full-time jobs on a temporary basis

Answer 27

Temp agency

Question 28

A letter that accompanies a resume, introducing the applicant to a prospective employer

Answer 28

Cover letter

Question 29

A form that asks basic questions about the applicant’s background, such as work history, education, skills, and references

Answer 29

Job application

Question 30

Contact with a prospective employer after the interview but before a person is hired for the opening

Answer 30

Follow-up