| A | B |
|---|
| Lifestyle | The way a person chooses to spend their time and money |
| Mobility | The ability to move easily from place to place. |
| Tenant | A person who pays for the right to live in a residence owned by someone else. |
| Landlord | The person who owns the property that you rent. |
| Lease | A legal document that defines the conditions of the rental agreement between the landlord and tenant. |
| Sublet | To have a person other than the original tenant take over the rental unit and payments for the remaining term of the lease. |
| Security Deposit | An amount of money paid to the landlord by the tenant to guard against any financial loss that the tenant might cause. |
| Equity | The value of a home less the amount still owed on the money borrowed to purchase it. |
| Mortgage | A long-term loan extended to someone who buys property. |
| Opportunity Cost | What you give up when you make one choice instead of another. |
| Demand | The relationship between prices and the corresponding quantities of a good or service that buyers are willing to buy at any given time. |
| Marginal Benefit | The increase in total benefit that results from producing, purchasing, or consuming an additional unit. |
| Marginal Cost | The increase in total cost that results from producing an additional unit. |
| Scarcity | The relationship between the amount of something we want and the amount of time that is available. |
| Supply | The relationship of prices to the quantities of a good or service sellers are willing to offer for sale, at any given time. |
| Trade-off | A choice between alternatives that reveals the opportunity cost of selecting one alternative over the other. |
| Marginal Analysis | Used to assist people in allocating their scarce resources to maximize the benefit. |
