Economics & Business Term Definitions Flashcards
1
Q
Income
A
Money received, especially on a regular basis
2
Q
Investment
A
The act of committing money or capital to an economic endeavour with the expectation of obtaining additional profit
3
Q
Savings
A
The portion of current income not spent on consumption
4
Q
Shares
A
A unit of ownership in a publicly listed company
5
Q
Interest
A
Money paid at a particular rate for the use of money lent
6
Q
Finance
A
The management of large amounts of money, especially by governments or large companies
7
Q
Opportunity cost
A
The cost of the next best alternative use of resources or money
8
Q
Scarcity
A
A shortness of supply; not enough of something to satisfy everyone’s wants and needs
9
Q
Superannuation
A
Saving for retirement
10
Q
Debt
A
Sum or money that is still owed
