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| Choices because of unlimited needs and wants |
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Definition
| using money to purchase goods and services |
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| The choice of one item while giving up another |
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| The highest-valued alternative |
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Definition
| researching and planning purchases in advance |
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| putting aside money for later use |
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| forming the habit of saving regularly |
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| obtaining money, goods, or services at present in exchange for the promise of future payment |
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| borrowing only what can be paid back when due |
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| The amount of goods/services an employee produces |
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Definition
| To get a promotion and/or raise in salary |
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| A direction in which the workplace is moving |
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| A chance to get a job, advance in a career, or start or expand a business |
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| The style of living that a person can afford |
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| The total output of goods and services in a nation |
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Definition
| The amount of goods/services consumer want to buy at any point in time |
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Definition
| The amount of goods/services available at any point in time |
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Definition
| A period in which individuals/businesses are financially successful and thriving |
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Definition
| An economic period of six months or more when growth is slowed down |
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Definition
| The amount of money people save |
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Definition
| Having enough money saved to be able to withstand crises and emergencies |
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Definition
| Borrowing; buying now, paying later |
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Definition
| Percentage of amount borrowed |
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Term
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Definition
| involves realizing that career choices greatly affect lifetime earnings |
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