Financial Literacy Ch 1 Vocabulary Review

Front

All of the activities related to making and distributing goods and services in a geographic area or country.

Back

economy

Front

An economy based on the laws of supply and demand.

Back

market economy

Front

The quantity of goods and services that producers are willing and able to provide.

Back

supply

Front

The willingness and ability of consumers to buy goods and services.

Back

demand

Front

The alternating periods of growth and decline in the economy.

Back

business cycle

Front

The expense paid by students for the instruction at a school.

Back

tuition

Front

Money received from an outside source to help pay for education.

Back

financial aid

Front

A loan on which the student pays no interest until he or she has graduated or is no longer in school.

Back

subsidized student loan

Front

A set of moral values that people consider acceptable; the study of what is right versus wrong.

Back

ethics

Front

A loan that starts charging interest from the time the loan is made.

Back

unsubsidized student loan