Financial Literacy Ch 1 Vocabulary Review

All of the activities related to making and distributing goods and services in a geographic area or country.

• economy
• market economy
• supply
• demand

An economy based on the laws of supply and demand.

• economy
• market economy
• supply
• demand

The quantity of goods and services that producers are willing and able to provide.

• economy
• market economy
• supply
• demand

The willingness and ability of consumers to buy goods and services.

• economy
• market economy
• supply
• demand

The alternating periods of growth and decline in the economy.

• business cycle
• tuition
• financial aid
• ethics

The expense paid by students for the instruction at a school.

• business cycle
• tuition
• financial aid
• ethics

Money received from an outside source to help pay for education.

• business cycle
• tuition
• financial aid
• ethics

A loan on which the student pays no interest until he or she has graduated or is no longer in school.

• subsidized student loan
• unsubsidized student loan
• grant
• scholarship

A set of moral values that people consider acceptable; the study of what is right versus wrong.

• business cycle
• tuition
• financial aid
• ethics

A loan that starts charging interest from the time the loan is made.

• subsidized student loan
• unsubsidized student loan
• grant
• scholarship