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economic terms Jaxon J. 6th period
Terms in this set (20)
money a company has left over after subtracting the cost of doing business.
a stock of a resource from which a person or place can be provided with the necessary amount of that resource.
desire for a particular good or service.
a person, company, or country that makes, grows, or supplies goods or commodities for sale.
the process of concentrating on and becoming expert in a particular subject or skill.
federal income tax
is a tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities.
state income tax
Tax levied on income at the state level.
is a U.S. law that creates a payroll tax requiring a deduction from the paychecks of employees as well as a contribution from employers.
the cost required for something.
once every year
the fact or process of losing something or someone.
merchandise or possessions.
the amount of a good.
money received, especially on a regular basis, for work or through investments.
an estimate of income and expenditure for a set period of time.
of an object or an action) require the payment of (a specified sum of money) before it can be acquired or done.
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
a fixed regular payment.
a piece of paper that is given to an employee with each paycheck and that shows the amount of money that the employee earned and the amount that was removed for taxes, insurance costs, etc.
money owed on a loan