Business
Incentive for businesses to sell their product/service.
What is Profit?
Money that individuals have to give to the federal government each year based off income.
What is federal income tax?
A type of card where you borrow money.
What is a credit card?
When you buy a share of a business, you get this.
What is a stock?
A way of organizing wealth and allocating resources.
What is an Economic System?
A business/organization where the goal is not a profit but rather bettering the community.
What is a Nonprofit Organization?
Some landlords will include water, heating, electricity, and other bills into this payment.
What is rent?
If this is bad, it will be harder for you to rent, get loans, and get insurance.
What is a Credit Score?
An account with the purpose of spending money.
What is a Checking Account?
Economy where the Government makes all the decisions.
What is Command (Communism)?
A business where law states it is separate from it's owners.
What is a Corporation?
An amount that reduces income subjected to tax.
What is a Tax Deduction?
This kind of loan is taken out when buying a house.
What is a mortgage?
What is Supply and Demand?
Economic system where the government does not intervene at all and it is fueled by supply and demand.
What is the market economy (Capitalism)?
A business run by two or more where liability, profit, and decisions are shared.
What is a Partnership?
A form you have to fill out for an employer to take out taxes.
What is a W2?
You can only check this once a year for free.
What is a credit report?
Terms used when the market is increasing.
What is a bull market?
A system using trading and bartering rather than money.
What is Traditional/Barter Economy?
A business owned by one person.
What is a sole-proprietorship?
Teens should always file taxes because you could get _______.
What is Tax returns?
A loan that does not accrue interest while in school and shortly after graduating.
What is a subsidized loan?
Achieved when buyers purchase exactly as much as sellers are willing to sell.
What is Equilibrium?
An economic system where the government intervenes but doesn't fully control.
What is Mixed?