24 terms

GSESS8 E1 E2 E3 - All

STUDY
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Terms in this set (...)

Expenditure
An amount of money spent, as a whole or on a particular thing.
Income
The amount of money a person earns during a year.
Investing
Using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits.
Saving
Setting aside of income for future use.
Spending
The amount a person purchases.
Budget
A plan for spending.
Spending
The amount a person purchases.
Saving
Setting aside of income for future use
Bankruptcy
A legal proceeding involving a person or business that is unable to repay outstanding debts.
Credit
An amount of money loaned to a person that must be paid back along with additional interest.
Debt
An amount of money borrowed by one party from another party.
Interest
An additional amount you pay to use borrowed money.
Entrepreneur
A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Innovative
Using or showing new and creative ideas.
Profit
The amount of money an entrepreneur or business earns after paying their expenses.
Economic Impact
The effect that an event, policy change, or market trend will have on economic factors such as interest rates, consumer confidence, stock market activity, or unemployment.
Revenue
Income, especially when of a company or organization and of a substantial nature; a state's annual income from which public expenses are met.
Deepwater Ports
Important water ways used for shipping cargo; Georgia's two deepwater ports are in Savannah and Brunswick.
Goods
Products and materials that people want.
Hartsfield-Jackson International Airport
The world's busiest airport; located in Atlanta; named after Atlanta mayors William B. Hartsfield and Maynard Jackson.
Intermodal
Transportation involving more than one form of carrier, such as truck and rail, or truck, ship and rail.
Interstate Highway System
National highway system established by the federal government in 1950's.
Railroads
An important mode of transportation used to ship a large amount of goods nationwide; many of Georgia's cities were developed due to the railroad.
Services
Actions people perform for economic benefit.