20 terms

Reece H. personal finance 7th Period

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Terms in this set (...)

Interest
Price paid for borrowing money
Profit
Money left over after expenses have been subtracted out
Supply and demand
Amount available and desire for an item
Producer
Person or business that makes and sells products
Consumer
Person or business that bits per consumes products
Specialization
Act of concentrating on a limited number of goods or activities
Entrepreneur
Person who organizes and manages His or her own business
Investing
Act of using money in the hope of making a future profit
Federal income tax
Tax on annual earnings levied by the US IRS
State income tax
Tax on income levied at the state level
Expenses
Cost required for something
Annual
Occurring once a year
Loss
An amount of money lost
Goods
Merchandise or possessions
Income
Money received through work or investments
Finance
Management of la auger amounts of money
Budget
Estimate of income and expenditure
Cost
An amount that had to be paid or spent
Credit
Sum received on right side of account
Wage
A fixed regular payment
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