Economy
When there are no more items for you to buy
What is shortage?
Something you can't do without.
What is a need?
A type of funding for college that does not need to be repaid.
What is a grant or scholarship?
$7.25/hour
What is a wage?
Your take-home pay after deductions
What is net income?
When there are lots of items for you to buy.
What is a surplus?
Trent makes his bed every morning without thinking. His behavior would be called this...
What is a habit?
A type of college education that requires 4 years of school.
What is a bachelor's degree?
$1500/month
What is a salary?
The total amount earned before paycheck deductions.
What is gross income?
The availability of and the desire for a product or service.
What is supply and demand?
Apple just released their latest iphone and Barrie bought it the same day.
What is instant satisfaction?
A way to pay for college that involves borrowing money.
What is a student loan?
Teamwork, problem solving, and time management are examples of these.
What are soft skills?
The date all tax returns must be postmarked.
What is April 15th?
A economy that includes property rights and voluntary trade.
What is a market economy?
Waiting until you have the money to purchase something.
What is delayed gratification?
The amount of increase in salary Jose can expect to receive for obtaining his master's degree. (hint: this is a 3 letter formula.)
What is return on investment or ROI?
Tony has to move to a new city where housing is expensive for his job. What career consideration is this?
What is cost of living?
This form comes TO you showing what you made and paid in taxes the previous year.
What is form W2?
The two factors needed to create wealth.
What are property rights and voluntary trade?
The next best alternative that you gave up.
What is opportunity cost?
A type of savings plan set up specifically for education.
What is a 529 plan?
Someone who provides innovation, jobs, and has no limit to their potential income.
What is an entrepreneur?
This form is FOR you to fill out to tell your employer how much to withhold from your paycheck for taxes.
What is form W4?