Earning Income
Money from a job
What is earning income?
Physical items that a person may want to buy.
What is goods?
Giving up the ability to buy something right now.
What is savings?
Allows a person to borrow money now and pay it back with interest.
What is credit?
Chance of loss or hurt
What is risk?
People who start their own businesses
What is entrepreneur?
A person can decide to buy______ such as getting their hair cut or ordering food to be delivered.
What is a service?
It can help a person buy something they want even if it is expensive.
What is a savings goal?
The money provided by the bank is considered a _______because it is expected to be paid back.
What is loan?
Prevent from happening
What is avoid?
Money based on completing a task such as selling cars or
artwork.
What is commissions?
A person may choose to spend money on a _________like watching a movie or
playing a board game they bought earlier.
What is a leisure activity?
Any money saved in a bank account will get a little bit of money back.
What is interest?
Interest is usually __________ than the amount you borrowed. (smaller/larger)
What is smaller?
An action taken to lessen risk
What is precaution?
Money paid hourly
What is Wages?
When a person loses a different item in order to gain their original want
What is an opportunity cost?
A ___________ is the best place to save your money.
What is a bank?
Could be anywhere from a few months to a few years
depending on how expensive the purchase was and how much the person
borrowed.
What is a repayment plan?
Some _________ are unavoidable and sudden.
What is risks?
Money taken out to pay for government provided goods and services.
What is taxes?
Buying something and getting the item you wanted in that exact moment.
A(n) ______ is an item you buy while a(n) ________ is a task you pay for.
What is goods and services?
A bank may charge more ________ for a longer repayment plan.
What is interest?
Using a helmet while riding a bike is an example of________.
What is taking precautions?