| A | B |
|---|
| Earning | Gaining money by working, owning a business, or receiving investment returns |
| earnings | Money gained from earning |
| productivity | The amount of goods/services an employee produces |
| advance | To get a promotion and/or raise in salary |
| workplace trend | A direction in which the workplace is moving |
| workplace opportunity | A chance to get a job, advance in a career, or start or expand a business |
| standard of living | The style of living that a person can afford, according to his/her income |
| market economy | A free enterprise system in which consumers respond to the economy as they wish --- in their earning, spending, saving, and borrowing |
| gross domestic product | The total output of goods and services in a nation |
| responsible | Showing a responsible approach to choices, considering obligations to others |
| Spending | Using money to purchase goods and services |
| prosperity | A period in which individuals/businesses are financially successful and thriving |
| recession | An economic period of six months or more when growth is slowed down |
| supply | The amount of goods/services available at any point in time |
| demand | The amount of goods/services consumer want to buy at any point intime |
| Law of Scarcity | Individuals, families, businesses and nations have limited resources with which to meet the unlimited needs and wants of consumers/citizens |
| trade-off | The choice of one item while giving up another |
| opportunity cost | The highest-valued alternative that must be given up when a choice is made |
| Saving | Putting aside money for later use |
| durable goods | Items with lasting value, the purchase of which is considered a form of savings |
| savings rate | The amount of money people save in an economy |
| financial security | Having enough money saved to be able to withstand crises and emergencies |
| Borrowing | Obtaining money, goods, or services in exchange for promise of future payment |
| credit | Borrowing; buying now, paying later |
| interest rate | Percentage of amount borrowed to be added to the amount loaned and paid back |
| inflation | A period in which demand for goods/services is high and prices continue to rise |
