a medium of exchange which is widely circulated and generally accepted as a standard of value by a society.
Money
a system in which means of production are owned and operated by individuals and privately-owned organizations for the purpose of making profits
Private Enterprise
the amount of money asked for or given for the purchase and sale of goods, services and property
Price
Social Security
government program of social benefits and pensions
what is a DEBT
when you owe a person, government, or company.
what is a Budget
a plan for the use of money based on goals and expected income and expenditures
the process of measuring the value of a specific item by other items that could be had for the same price
Opportunity Cost
state tax
Tax charged at the state level
What is Entrepreneur
someone who runs their own business
Net pay
amount of money you bring home after taxes/deductions
wealth that can be readily converted to cash.
Liquid Assests
tax
money that people pay to their government in return for services
what is INCOME
money that is earned from doing work or received from investments
Income Taxes
a tax on the net income of individuals or businesses; the largest single source of federal revenue.
What is the money saving rule
50,30,20 Rule
Federal Budget
a plan for the federal government's revenues and spending for the coming year
what is GRANT
an amount of money given especially by the government to a person or organization for a special purpose:
Credit Limit
The maximum amount that may be borrowed on a credit card
one who buys or does business with a particular store or firm; person who makes a purchase
Customer
federal tax
Government income generated from taxes