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UNIT 7.00 VOCABULARY

AB
AdvocacyThe act or process of writing or speaking in favor of, or about a cause
AltruismThe principle or practice of unselfish concern for the welfare of others
Crowd FundingThe practice of funding a project or venture by raising small amounts of money through donations from a large amount of people, typically raised via the Internet
Estate PlanA clear outline for what should happen upon death of an individual
ExpenseMoney spent
Financial PlanningManaging money in ways that build a sense of understanding, competence and control
Healthy GivingWhen an individual gives out of excess in his or her life and the act provides positive emotions for both the giver and receiver
Opportunity CostThe value of the next best alternative that must be forgone as a result of a decision
PhilanthropyThe desire to promote the welfare of others, expressed especially by the generous donation of time and/or money to worthy causes
Pro‐Social SpendingMoney spent on others
PSAPublic Service Announcement (PSA) Print advertisement or broadcast commercial on TV or Radio, intended to change attitudes by raising awareness about specific issues
ResourcesAnything that can be utilized to meet an objective. It can include human capital, money, time, emotion and more.
Social CapitalPersonal investment of time through social interactions that builds trust and enables participants to act together more effectively to pursue shared objectives
Social EnterpriseAn organization that applies commercial strategies to maximize improvements in human and environmental well‐being, rather than maximizing profits for shareholders
Spending PlanAn income and expense statement sometimes referred to as a budget which records both planned and actual income and expenses over a period of time
Time UtilityConcept that refers to satisfaction received from time given up
Trade OffGiving up one thing for another
Unhealthy GivingProduces diminished well‐being for both the giver and the receiver.
UtilityMeasure of satisfaction
Well‐beingFeeling good about one’s life


Business Marketing Teacher, Career Technical Education
CENTRAL CABARRUS HIGH SCHOOL
Concord, NC

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