Chapter 1 Test Review

Makes it easier to trade one thing for another

• money

• Commission

• minimum wage

• salary

repeating time frame used to calculate and pay wages

• bartering

• commission

• pay period

• overtime

someone who accepts a job

• employer

• employee

• entrepreneur

• unearned income

trading items other than money

• overtime

• minimum wage

• bartering

• money

often paid to salespeople and calculated as a percent of sales

• money

• commission

• overtime

• bartering

a person or company who hires a person

• employee

• entrepreneur

• employer

• salary

income which does not come to work

• pay period

• money

• commission

• unearned income

fixed compensation

• money

• unearned income

• salary

• commission

a person who starts a business venture

• entrepreneur

• employer

• employee

• money

extra pay for working more than 40 hours

• overtime

• salary

• money

• pay period