Shared Flashcard Set

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Unit 7
Words of money
42
Finance
9th Grade
01/06/2016

Additional Finance Flashcards

 


 

Cards

Term
Advocacy
Definition
The act or process of writing or speaking in favor of, or about a cause
Term
Altruism
Definition
The principle or practice of unselfish concern for the welfare of others
Term
Crowd Funding
Definition
he practice of funding a project or venture by raising small amounts of money through donations from a large amount of people, typically raised via the internet
Term
Estate Plan
Definition
A clear outline for what should happen upon death of an indivdual
Term
Expense
Definition
Money spent
Term
Financial Planning
Definition
Managing money in ways that build a sense of understanding, competence and control
Term
Healthy Giving
Definition
When an individual gives out of excess in his or her life and the act provides positive emotions for both the giver and receiver
Term
Opportunity Cost
Definition
The value of the next best alternative that must be forgone as a result of a decision
Term
Philanthropy
Definition
The desire to promote the welfare of others, expressed especially by the generous donation of time and /or money to worthy causes
Term
Pro-Social Spending
Definition
Money spent on others
Term
Public Service Announcement(PSA)
Definition
Print advertisement or broadcast commercial on TV or Radio, intended to change attitudes by raising awareness about specific issues
Term
Resources
Definition
Anything that can be utilized to meet an objective. It can include human capital, money, time, emotion and more.
Term
Social Capital
Definition
Personal investment of time through social interactions that builds trust and enables participants to act together more effectively to pursue shard objective.
Term
Social Enterprise
Definition
An organization that applies commercial strategies to maximize improvements in human and environmental well-being, rather than maximizing profits for shareholders.
Term
Spending Plan
Definition
An income and expense statement sometimes referred to as a budget which records both planned and actual income and expenses over a period of time.
Term
Time Utility
Definition
Concept that refers to satisfaction received from time given up
Term
Trade Off
Definition
Giving up one thing for another
Term
Unhealthy Giving
Definition
Produces diminished well-being for both the giver and the receiver
Term
Utility
Definition
Measure of satisfaction
Term
Value
Definition
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
Term
Well-being
Definition
Feeling good about one’s life
Term
Asset
Definition
A useful or valuable thing, person, or quality
Term
Beneficiary
Definition
A non-profit organization
Term
Charity
Definition
The person who died
Term
Estate
Definition
The real and personal property that a person owns
Term
Estate Planning
Definition
Provides a clear plan for what should happen upon the death of an individual
Term
Executor
Definition
A person or institution named in a will to carry out the settlement of an estate
Term
Fiduciary
Definition
Someone entrusted with managing an estate; included executor, guardian, conservator and trustee
Term
Gift
Definition
A lifetime transfer of property without receiving payment
Term
Guardianship
Definition
Established by a legal document called a will
Term
Guardian
Definition
A person legally charged with the duty of taking care of another who, because of age intellect, or health, is incapable of managing his or her own affairs
Term
Letter of Last Instruction
Definition
A signed letter that provides a detailed inventory of assets and liabilities, describes personal preferences about transfers of many odd pieces of personal property
Term
Liability
Definition
Any money that a person owes others
Term
Living Will
Definition
A legal document that expresses a person’s wished regarding prolonging his or her life by artificial, extraordinary, or heroic measures when death is inevitable
Term
Opportunity Cost
Definition
The value of the next best alternative that must be forgone as a result of a decision
Term
Personal Property
Definition
Property owned by the decreased individual, such as a car, jewelry, stocks
Term
Testator
Definition
A man or woman who makes a will
Term
Time Utility
Definition
Concept that refers to satisfaction received from the time given up
Term
Trade-Off
Definition
Giving up one thing for another
Term
Value
Definition
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual
Term
Will
Definition
A written document representing the instructions of the deceased for the distribution of the estate
Term
Decedent
Definition
The person who died
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