Banking vocabulary

market system where peole have freedom as consumers and producers

• free enterprise system

• budget

• income

a plan for managing a person's income and expenses

• free enterprise system

• budget

• income

money a person gets from working or selling goods and services

• free enterprise system

• budget

• income

the costs a person has for goods and services they buy

• income

• expense

• profit

the money made by a business after paying all expenses

• profits

• scarcity

• entrepreneur

there are not enough resources to meet every want and need

• profits

• scarcity

• entrepreneur

a person who starts a business

• profits

• scarcity

• entrepreneur