Economy Vocab Part 2

If you have a bank that loans you money and trust you will pay bank the loan they are assuming you have good

• debt.

• credit.

• labor.

• job options.

When a company offers incentives like health insurance, a retirement plan, and paid vacation, this is known as

• a loan.

• a solid job description.

• benefits.

• a pretty good job to have.

Debt is described as

• your ability to pay off a loan quickly.

• the amount of money left over after taxes.

• the tax break you get when you file taxes.

• your obligation to pay back a loan from someone.

Your parents want to start a business selling ice cream out of a truck as a summer job. This would be known as

• good retirement investment.

• a fun job to have for the summer.

• free enterprise.

• taxable income that the government will closely monitor.

This is a fee charged for borrowing money or additional money potentially added to your account(s), like a savings account.

• Budget

• Interest

• Debt

• Credit

You go to the bank and ask for a loan to buy a car. The bank considers you a

• lender.

• credit holder.

• borrower.

• business partner.

When deciding open a business one thing to consider in planning what your profit would be is your

• costs.

• potential sales pitch.

• a place to sell your product.

• a list of investors.

When you ask others for money to start up your business and whatever they give you they expect you to pay them back plus a little extra those people are known as

• borrowers.

• investors.

• credit.

• debt.

Free trade could be described as

• countries placing restrictions on goods.

• countries putting more security at their ocean borders.

• countries decreasing restrictions on good coming into their country.

• countries stopping further talks to discuss trade.

The total value of goods and services factored to help determine a country's economy is

• Gross Domestic Product.

• Gross Domestic Valuation.

• Gross Economic Standard.

• Economic Base Line Data.