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Economic Terms Personal Finance

Sarah Kiley

Word Bank
Allowance, Budget, Character, Consume, Decision, Deposit, Expenses, Interest, Labor, Productivity, Ecomonics, Choice, Goal, Market Economy, Opportunity Cost, Workers, Wage, Spend, Save, Saving

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2.Use money now to buy stuff
4.People employed to do work
7.Something a person or organization plans to achieve in the future
8.Spending-and-saving plan based on an individual's income
9.The quantity and quality of human effort available to produce goods/services
12.Economy that relies on a system of independent market pirces to allocate goods, services, and productive resources (2 Words)
14.Money paid regularly for the use of borrowed money
15.A conclusion after considering alternatives and thier results
16.Disposable income minus consumption spending
17.Money put in the bank or finiancial account
19.Indicates how creditworthy a prospective borrower is likely to be
20.Payments for labnore services directly tied to time worked
1.Second-best alternative that must be given up when scarce resources are used for one purposevs. another (2 Words)
3.Study of how people,firms, and societies choose to allocaste scarce resources with alternative uses
5.Money paid regularly to a person, often parent to child
6.Decision made or course of action taken when faced with a set of alternatives
10.Amount of output produced per unit of input used
11.Payments for goods/services
13.To buy and use a good/service
18.Keep money for future use

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