| 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 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 resonsible approach to choices, considering obligations to others |
| spending | using mone 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 consumers want to by at any point in time |
| Law of Scarcity | individuals, families, businesses and nations have limited resources with which to meet 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 |
