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32 terms

Exam review

for Finals
STUDY
PLAY
Autocratic Leadership
a leadership style that involves making decisions without consulting others
Laissez-Faire Leadership
Hands-off; leader gives minimal guidance to the group and allows group members to work with little or no structure
Money Management
planning how to get the most from your money
Assets
Things that have a monetary value that someone owns
Net worth
Assets minus liabilities
Budget
Estimate of income and expenditure
Balance sheet
a financial statement that reports assets, liabilities, and owner's equity on a specific date
Liabilities
the debts that you owe
Gross
the entire amount of income before any deductions are made
Median
The middle number in a set of numbers that are listed in order
Profit
Total revenue minus total cost
Revenue
Money generated by sales
Marketing
Promoting or selling products or services
Mark-up
Increase in price
Target audience
Target audience describes a particular market segment selected as being the most appropriate for a certain advertising campaign.
Supply
The amount of goods and services that producers are able and willing to sell.
Demand
The quantity of a good or service that consumers are willing and able to buy
Market economy
an economic system based on the free market
Thesis statement
A sentence that identifies the topic of your paper and the main ideas you will present
Income tax
Tax paid to the state, federal, and local governments based on income earned over the past year.
Sales tax
A tax on the items that you purchase
Stock
A piece of the corporate pie. Entitles the holder to a share of the company's assets and earnings
Bonds
Buying these means you are buying the governmen'ts debt.
Compound interest
Interest earned on both the principal amount and any interest already earned.
A=P(1+(r/n))^n*t
Simple interest
interest paid on the principal alone. I=PRT
Mutual Fund
fund that pools the savings of many individuals and invests this money in a variety of stocks, bonds, and other financial assets
Saving
putting aside money for later use
Investing
Spending money to achieve a profit
Microfinance
Loaning poor people money to start busineses
Payday Loan
A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Credit
A company's trust that you will pay them back.
Federal Reserve
The central bank of the US