BusinessU: Personal Finance - Lesson 2-1 & 2- 2 (Athena Lin)

A fixed amount of money an employer pays to an employee, over a specific period of time for performing work,

• Rent

• Salary

• Wage

• Income

Pension: An employer-funded plan that provides for a defined amount of income for employees after retired.

• True

• False

FICA: The amount of money an employee is paid for earning in a given period after all deductions are made.

• True

• False

An employer funded plan that provides for a defined amount of income for employees after they retire from the company.

• FICA

• Pension

• Deduction

• Pay Period

Dividends: Money paid from a portion of a company's earnings to its shareholders.

• True

• False

A payment of money to a person where no work or service is performed in exchange for the payment.

• Unemployment compensation

• Dividends

• Salary

• Transfer Payment

Unemployment Compensation: Money an employer pays to an employee for specific work performed, based on hours worked.

• True

• False

Rent: Money charged by a landlord to a tenant for the use of an apartment, office, or other property.

• True

• False

401(k): A retirement account offered by employers to employees where they contribute pre-tax amounts and employers.

• True

• False

A labor market involving temporary, flexible, freelance jobs using technology to connect workers with those who are hiring.

• Personal Gross Income

• Gig Economy

• Pay Period

• Market Economy