Economics Vocab

Front

Lowest legal pay for workers

Back

minimum wage

Front

A person who works for another in return for pay.

Back

employee

Front

Companies or individuals that create or provide goods or services.

Back

Producer

Front

A company or person who hires others for pay.

Back

employer

Front

Fixed amount paid for work, usually yearly or monthly.

Back

salary

Front

Money paid to a worker for work done, often hourly.

Back

Wage

Front

Money earned from a bank or others for using their funds.

Back

Interest

Front

Risk of money or time taken for profit.

Back

investment

Front

Cost of what one gives up to get what they want

Back

opportunity cost

Front

Money earned after necessities are paid

Back

Profit