*** 3RD MATH VOCABULARY - Financial Literacy Vocab

Front

What is human capital/labor?

Back

Abilities, skills, and education that help make a worker more valuable and productive for a company or organization.

Front

What is debt?

Back

Something, typically money, that is owed or due.

Front

What are resources?

Back

Natural or man-made materials used to produce goods and services.

Front

What does it mean to earn?

Back

To obtain money in return for labor or services.

Front

What is scarcity?

Back

Something that is hard to find.

Front

What is a budget?

Back

A plan for how to spend money.

Front

What is interest?

Back

The cost of borrowing money, usually expressed as a percentage.

Front

What is a loan?

Back

Money that is borrowed and must be paid back with interest.

Front

What is income?

Back

Money received for work or investments.

Front

What is spending?

Back

Using money to buy goods and services.