| Term | Definition |
|---|
| Consumer spending | contributes to economic growth |
| Actions of consumers | have BIG effect on what products are offered for sale in stores |
| Identity theft | taking recommended precautions will reduce(but not eliminate) the possibility |
| Outgoing mail | For security reasons, you should deposit mail at the post office(not at your home) |
| Consumers, workers, and citizens | 3 major economic roles people play |
| Services | Examples are child care and auto maintenance |
| Marketing experts | work to determine what consumers want and will buy |
| Identity Theft | Illegal use of an individual's personal information |
| Social Security number | used to track a person't earnings |
| marketplace | everything offered for sale to the general public |
| retailers | those who sell directly to consumers |
| technology | affects consumers by 1) making it easier to buy on impulse and 2) making information more accessible |
| US Department of Agriculture | sets standards for meat, poultry, canned fruits and vegetables |
| Federal Trade commission | enforces laws against dishonest advertising |
| Paycheck | can by weekly, bi-weekly, or monthly |
| Direct deposit | pay is deposited electronically in your bank account; a pay stub IS still received |
| Pay stub | shows where some of your money is going; includes the dates for which you are being paid |
| Net pay | the amount for which a paycheck is written; |
| Gross pay | the amount of pay before any deductions; usually the same for each pay period for salaried employees |
| FICA | Federal Insurance Contributions Act |
| Taxes and child support | can be withheld from your paycheck |
Combine with other sets
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