Term
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Definition
| money gained from earning |
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Term
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Definition
| the amount of good/ services an employee produces |
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Term
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Definition
| toget a promotion and/or raise in salary |
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Term
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Definition
| a chance to get a job, advance in a career, or start or exspand a business |
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Term
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Definition
| the style of living that a person can affoerd according to his/ her income |
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Term
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Definition
| a freee enterpise system in which consumers resopnd to the economy as they with in their earning, spending. saving and borrowing |
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Term
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Definition
| the total output of goods and services in a nation |
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Term
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Definition
| showing a responsibe approach to choices, considering obligations to others |
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Term
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Definition
| using money to purchas goods and services |
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Term
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Definition
| a period in which individuls / businesses are finacially successful and thriving |
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Term
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Definition
| an economic period of six months or more when growth is slowed down |
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Term
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Definition
| the amount of good/services available at any point in time |
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Term
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Definition
| the amount of goods/ services consumer want to buy at any point in time |
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Term
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Definition
| individrals families, businesses and nations have limited resources with which to meet the unlimited needs and wants or consumners/ citizens |
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Term
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Definition
| the choice of ome item while giveing up another |
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Term
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Definition
| the hghest valued alternative that must be given up when a choice is made |
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Term
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Definition
| putting aside money for later use |
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Term
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Definition
| items with lasting value,the purchase of whcih is considered a form of saving |
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Term
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Definition
| the amount of money people save in an economy |
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Term
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Definition
| haveing enough money saved to be able to withstand crises and emergencies |
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Term
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Definition
| obtaining money, goods or services in exchange for promise of future payment |
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Term
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Definition
| borrowing buying now paying later |
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Term
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Definition
| percentage of amount borrowed to be added to the amount loaned and paid back |
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Term
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Definition
| a period in which demand for good/ sevrvices is high and prices continue to rise. |
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