| A | B |
|---|
| Personal Financial Planning | arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals. |
| Goals | what you plan to achieve. |
| Values | what you desire or consider to be of importance. |
| Oppurtunity Cost | is what is given up when making one choice instead of another. |
| Liquidity | when you can easily transfer financial assets into cash without loss in value. |
| Service | a task that a machine or person does for you |
| Good | physical item that is produced and can be weighed or measured. |
| Economics | the study of the economy. |
| Economy | consists of the ways in which people make, distribute, and use their goods and services. |
| Supply | the amount of goods and services available. |
| Demand | amount of goods and services people are willing to buy. |
| Federal Reserve System | central banking orginization of the United States. |
| Inflation | the rise in the level of prices for goods and services. |
| Consumer | person who purchases and uses goods or services. |
| Interest | price that is paid for the use of another's money. |
| Intangible items | cannot be touched but are often important to your well-being and happiness. |
| Durable items | will last more than a few years when used on a regular basis. |
| Consumable goods | purchases that you make often and use up quickly; shampoo and conditioner. |
| Unemployment | person without a job. |
| GDP | total dollar value of all goods and services produced in a country in one year. |
