| A | B |
|---|
| currency | coins and paper money |
| Medicaid | health insurance program that provides money to help states pay medical costs of people with low incomes. |
| creditors | people who are owed money |
| collateral | property used to guarantee repayment of a loan. |
| savings and loan | banks which help people purchase homes. |
| credit unions | banks established, owned, and operated by people who work for a single company or belong to a single organization. |
| Federal Reserve System | System which handles the banking needs of the Federal Government while regulating the US banking system. |
| proprietary | ownership |
| Certificate of Deposits | form of saving, savers invest certain amount of money for a specified period of time, known as CD. |
| brokers | people employed by brokerage houses to buy and sell stocks for custormers. |
| stock exchange | where shares are bought and sold. |
| mutual funds | large number of stocks owned in shares by many people. |
| insurance | system of spreading risks over large number of people. |
| premium | small amount paid for protection against risk. |
| private insurance | voluntary insurance that individuals and companies pay to cover unexpected losses. |
| beneficiary | person named in a life insurance policy who receives the money if the policy holder dies. |
| social insurance | government programs that protect individuals from future hardship. |
| Social Security | Social insurance which provides old-age, survivors, and disability insurance. |
| Medicare | health insurance program for U.S. citizens ages 65 and older. |
| bankruptcy | legal declaration that a person or business cannot pay debts owed. |
| Patriotism | purchasing this product shows your love of your country. |
| Transference | using the names or pictures of something or someone famous, but not direct quotations. |
| Plain Folks | the implication that 'users of this product are just like you the average person'. |
| Snob Appeal | the buyer will be sophisticated or "cool" if they buy the product. |
| Testimonial | using the words of a famous person to persuade you to buy or do something-- the association of a respected person with the product or idea. |
| Wit and Humor | Customers are attracted to products that divert the audience by giving viewers a reason to laugh or to be entertained by clever use of visuals or language. |
| Card Stacking | distorting and or omitting facts about the product. |
| Glittering Generalities | words that will make you feel strongly about someone or something or using "good" labels -- not supported by facts. |
| Bandwagon | persuading people to do something through the implication that "everyone else is doing it". |
| Name Calling | using words or suggestions that the other product is bad |
| Competitive Advertising | Tries to persuade consumers that a product is better than or different from its competitors. |
| Informative Advertising | Gives consumers information about a product, such as its price, its quality, its history and special features. |
| Emotional Advertising | Some advertisers use words or pictures that attempt to appeal to fear, happiness, or a sense of well-being. |
| Repetition | the product name is repeated at least THREE times. |
| Product comparison | saying one product is better than another similar product. |
| profit | money that a business has left after expenses. |
| scarcity | lack of a particular resource. |
| monopoly | what a company has when it is the only one selling a product or providing a service. |
| law of demand | economic principle that buyers will demand and buy more products when prices are low and fewer products when prices are higher. |
| free enterprise | principle that business owners in a free market are allowed to run their businesses in any way they see fit, with little government interference. |
| capitalism | economic system in which the means of production are owned by private citizens. |
| law of supply | economic principle that businesses will produce more products when they can sell them at higher prices and fewer products when prices are low. |
| sole proprietorship | small business owned by one person. |
| partnership | business in which two or more people share the responsibilities, costs, profits, and losses. |
| corporation | type of business that is recognized as a separate legal entity. |
| stock | shares of ownership, each share represents part of the corporation. |
| stockholders | people who buy corporate stocks. |
| dividends | corporate profits paid to stockholders. |
| free market | right to buy and sell goods as you want |
| nonprofit organizations | organizations that provide goods and services without seeking to earn a profit for stockholders. |
| natural resources | items provided by nature without human intervention that can be used to produce goods and provide services. |
| capital | manufactured goods used to make other goods and services. |
| labor | human effort, skills, and abilities used to produce goods and services. |
| entrepreneur | person who organizes, manages, and assumes the risks of a business. |
| market economy | economy in which people are free to obtain goods and services in almost any way they want. |
| goods | manufactured items that consumers can buy and own. |
| services | products that are not physical objects. |
| gross domestic product GDP | dollar value of all goods and services produced annually in the United States |
| mass production | rapid production by machine of large numbers of identical objects. |
| profit | difference between the total cost of production and the total revenues received from buyers. |
| marketing | process of making goods and services available to consumers and convincing them to buy a product. |
| mass marketing | process of selling a good or service in which the same product, price, promotion, and distribution is used for all consumers in a particular market. |
| competitive advertising | tries to persuade consumers that a product is better than or different from its competitors |
| Informative advertising | gives consumers information about a product, such as its price, its quality, its history, and its speacial features. |
| Emotional advertising | the use of words or pictures that attempt to appeal to consumer's emotions. Advertisers may appeal to fear, happiness, or sense of well-being, for example. |
| consumer | person who buys or uses goods and services. |
| brand | name given by the maker to a product or range of products. |
| generic product | product that does not have a manufacturer's name or brand |
| debit card | similar to a credit card but deducts money from a checking account |
| charge account | form of credit that stores grant to customers |
| credit cards | forms of credit issued to customers by banks or other lending institutions. |
| retail | the sale of goods to the public in relatively small quantities for use or consumption rather than for resale. |
| wholesale | the selling of goods in large quantities to retailed by others. |
| patent | the exclusive right granted to an inventor in most countries is the right to prevent others from making it. |
| equity | The value of the shares issued by a company. Ownership in a company. |
| NYSE | The Big Board, is a stock exchange located at 11 Wall Street. It opens at 9:30 and closes at 4:00. |
| Nasdaq | WORLDS first electronic stock exchange. |
| Dow Jones | Index that shows how 30 large publicly owned companies based in the US have traded during a standard trading session in the stock market. |
| Bond | A form of loan or IOU; the holder is the creditor, the issuer is the borrower (debtor), and the coupon is the interest. |
| Bear Market | a general decline in the stock market over a period of time. |
| Bull Market | is a period of generally rising prices of stocks. |
