Job Market and Skills
What is a hard skill?
A measurable physical and mental ability that allows you to complete a job.
Who is an economist?
A person who studies the economy
What is the business cycle?
The alternating periods of growth and decline in an economy.
What is tuition?
the expense paid by students for instruction at a school.
What is a resume?
A document containing information about an individual and their skills and qualifications.
What is a job description?
A description/ document describing exactly what a job entails.
What is an economy?
A geographical region where there is the production, distribution and consumption of goods and services.
The recovery stage is also known as the _______ stage.
Growth
What is a grant?
Money given to pay for educational expenses (does not have to be repaid).
What is a scannable resume?
a resume with a standard formatting and text that is run through a scanner to identify key terms.
What is formal education?
Involves attending classes and obtaining a degree.
Market economies are based on the forces of ______ and ________.
Supply and demand.
The economy is as robust as it gets in the _____ stage.
Peak
What is interest?
Money is paid for the use of borrowed money.
Who is a reference?
Give four examples of soft skills.
Leadership, team skills, communication, punctuality, good time management, problem solving skills,etc.
What is demand?
The willingness and ability of consumers to buy goods and services.
When would the economy slow down?
when people are buying less.
What is the difference between a full and partial scholarship?
A full scholarship covers all expenses, while a partial scholarship may only cover tuition and not all expenses.
What is a reference letter?
A statement of your character and abilities written by someone else.
What is the job market? Explain what makes it so important.
the job market refers to the job openings that are available when you are ready to go to work. The job market is always changing.
If Demand > supply, what happens to prices?
Prices increase
When is the best time (during the business cycle) to find a job?
During the growth period
What is "work and save"? What are ways this is done?
Students take some time out of their education to work and save money. Eg: gap year, part-time studying, working on campus.
Provide a format run-down of a cover letter.
Introduction and purpose, body and qualifications, Close in a friendly manner.