Chapter 1 Terms Flashcards
Job skills
Specific things that you can do that are needed to be successful
Job market
The variety of job and career choices available to you when you prepare to go to work
Job title
A name given to a particular job that contains a descriptive word or phrase
Job description
Give job detail
Lifelong learning
Updating your job skills by continuing to learn throughout your life
Values
Worth placed on ideas or actions
Influence choices made
Goals
Plans based on values or desired outcomes
Formal education
Involves attending classes where students learn skills and concepts
Informal education
On-the-job training
Economy
All the activities related to making an distributing goods and services
Economist
Person who studies the economy
Tries to predict what happens in the future
Supply
The quantity of goods and services that producers are willing and able to provide
Demand
The willingness and ability of consumers to buy products and services
When economy is growing
People buy more goods and services
Jobs are being created
Finding and keeping a job is easier
When economy is slowing
People buy fewer goods and services
Jobs are descending in numbers
Finding and keeping a job is harder
Hard skills
The ability to preform tasks and procedures
Ex. Install plumbing, run medical equipment
Soft skills
Non technical skills needed by most workers
Ex. Teamwork skills, communication skills, problem solving skills
Tuition
The charge for instruction at a school
Financial aid
Money receive from an outside source to help pay for education and training
Loan
Money that is borrowed that must be paid back
Subsidized student loan
A loan on which interest is not charged until after you graduate
Unsubsidized loan
Interest charged from the time the loan is made
Grant
Money that is given to you that you do not have to pay back
Scholarship
A gift of money or other aid made to a student to help pay for education
