Civics words; Bankruptcy Flashcards
Bankrupcty
A legal declaration that a person or business cannot pay his or her or its debts
Brand
A name given by the maker to a product or a range of products
Consumer
A person who buys or uses products and
services
GDP-Gross Domestic Product
The value of all goods and services produced in a country each year
Goods
Products that are manufactured and that
consumers can buy and own
Insurance
A system of protection in which people
pay small sums periodically to avoid the risk of a large loss
Medicaid
A federal program that helps the states
pay the medical costs of low-income people
Medicare
A federal program of health insurance
for people age 65 and older
Social Security
A system of government insurance
that provides benefits for retired people, people with disabilities, unemployed people, and people with job-related injuries or illnesses.
Stock Exchange
A market where stocks are bought and sold
Consumer Choice
Federal Reserve
Mass Production
