The ABC's
Money in the form of coins or notes
What is Cash?
Things done for consumers. Ex, haircut, bike repair
What are Services?
Items bought by consumers that you can actually touch
What are Goods?
Money that COMEs INto your budget
What is Income?
Goods received in a country from another country
What are Imports?
User of goods and services
What is a Consumer?
The actual making of goods or providing of services
What is Production?
Illegal tricks or cons to take your money
What are Scams?
Goods sent from one country to another country
What is an Export?
Money going out from your budget
What is an Expenditure?
Exchanging goods or services for other goods or services
What is Barter?
The people who do the work, also called labor
What are Human Resources?
Goods or services which consumers can live without but would like to have
What are Wants?
A plastic card you use when you don't have cash, you have to pay the bank at the end of the month, maybe with some interest
What is a Credit Card?
Taking money from your bank account
What is a Withdrawal?
A plan for saving, spending and managing money. It has two parts: income and expenditure
What is a Budget?
Can be money earned from leaving money in the bank or can be money paid for borrowing money from the bank
What is Interest?
Proof of purchase and an important record of where and when you bought something
What is a Receipt?
Secret code you hide at the ATM
What is Personal Identification Number (PIN)?
When you work for free, either out of charity or to gain new knowledge
What is Voluntary Work?
When you check a budget carefully to make sure the income, expenditure and balance are calculated correctly
What is Audit?
Goods made by people which are used to make other goods or to provide services. Ex, a hammer
What are Capital Resources?
The cost of making a choice when you have limited money but unlimited choice
What is Opportunity Cost?
The right to be compensated for faulty goods or unsatisfactory services
What is Redress?
When consumers consider the environment and make responsible choices regarding their consumption
What is Sustainable Consumption?