business finance key terms
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20 terms
Terms | Definitions |
|---|---|
 personal financial planning | spending, saving, and investing you money so you can have the kind of life you want as well as financial security. |
| goals | things you want to accomplish |
| values | things that are important to you |
| opportunity cost | the most desirable alternative given up as the result of a decision |
| liquidity | being in cash or easily convertible to cash |
| service | the performance of duties by a waiter or servant |
| good | moral excellence or admirableness |
| economics | the branch of social science that deals with the production and distribution and consumption of goods and services and their management |
| economy | an act of economizing |
| supply | offering goods and services for sale |
| demand | the act of demanding |
| federal reserve system | privately owned, publicly controlled, central bank of the United States |
| inflation | a general and progressive increase in prices |
| consumer | a person who uses goods or services |
| interest | a diversion that occupies one's time and thoughts (usually pleasantly) |
| time value of money | increase of an amount of money as a result of interest or dividends earned |
| principal | the major party to a financial transaction at a stock exchange |
| future value | The amount that your original deposit will be worth in the future based on a specific interest rate over a specific period of time |
| annuity | income from capital investment paid in a series of regular payments |
| present value | the amount of money you would need to deposit now in order to attain a desired amount in the future |
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