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Details Title: Florida E-Team Middle Vocab Description: Intermediate Economics Vocab. Total Flash Cards: 29 Created: 03/07/2007 05:11:10	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term ABUNDANT RESOURCES Definition those resources that are in relatively large supply; see scarce resources Term ACCOUNT Definition 1. the money available to the client of a bank; 2. the location in the bank—name or number—where the client’s money is stored Term ADVERTISE Definition informing consumers about a good or service, particularly by praising it Term ADVERTISEMENT Definition the method by which a business lets the consumer know about its good or service; provides information about the good or service that the producer or distributor wishes to be known Term ALLOCATE Definition to use for a particular purpose Term ADVERTISER Definition one who advertises Term ALLOCATION OF RESOURCES Definition the distribution of the available factors of production(resources) among the various uses to which they might be put Term ALTERNATIVE COST Definition see opportunity cost Term ALTERNATIVES Definition choices Term ALLOCATE Definition to use for a particular purpose Term ALLOCATE Definition use for a particular purpose Term ALLOCATION OFRESOURCES Definition the distribution of the available factors of production (resources) among the various uses to which they might be put Term ALTERNATIVE COST Definition see opportunity cost Term ALTERNATIVES Definition choices Term ANNUAL PERCENTAGE RATE(APR) Definition the interest rate or the cost of credit for one year Term ARBITRATION Definition the settlement of a dispute by a person or persons chosen to hear both sides and come to a decision Term ASSEMBLY LINE Definition an arrangement in which a product is assembled by having each worker perform one specialized task as the product passes by on a moving conveyance; see specialization Term ATM Definition Automatic Teller Machine Term AVAILABLE CREDIT Definition the preset amount of credit available on a credit card Term AVERAGE PER-CAPITA INCOME Definition average earnings of persons in a specific market area Term AVERAGE PER-FAMILY INCOME Definition average earnings of families in a specific market area Term BALANCE Definition the amount of money one has in a bank account Term BANK Definition a business that stores money (in checking and savings accounts) and that exchanges and lends money Term BANK CREDIT CARD Definition a card, like Visa or MasterCard, that lets one make purchases or obtain cash advances and repay the cost of those purchases plus interest (in most instances) over time Term BARTER Definition the direct trade or exchange of goods and services between people without the use of money; see exchange and trade Term BENEFIT Definition anything that is helpful or advantageous Term BENEFITS Definition to receive advantages or good things as a direct result of employment; also called fringe benefits Term BORROW MONEY Definition to use money belonging to another person or financial institution, usually by agreeing to pay interest for the use of the money Term BROKER Definition a person who acts as an agent in making contracts, sales or purchases, particularly of stocks, bonds or real estate