| A | B |
|---|
| advertising | statements paid for by a producer or seller that induce consumers to buy his or her products |
| alternatives | different options or choices one has |
| balanced budget | when the total income for a budget is the same as the total outgo |
| barter | trading one thing for another without the use of money |
| borrower | a person who goes to a bank or lending company to get money which will be used to purchase an item |
| Capital | money and goods needed to develop or expand or purchase a business |
| check | a written order to a bank to pay someone a sum of money which will be used to purchase an item substitute for money |
| collateral | items of value that're pledged to a lender to guarantee the repayment of a loan if the loan is not repaid the collateral of the borrower is forfeited to the Institution or individual making the loan |
| command economic system | the what,how and for whom goods and services will be produced is decided by the government |
| consumer | one who uses goods or services produced or supplied by himself or others |
| contract | any agreement between or among persons dealing with what is to happen or be done at the same time in the future |
| corporation | a business organization in which several people control an operation that may or may not be publicly owned |
| cost of living | the cost of maintaining a given standard of living in terms of purchased goods and services |
| criteria | different reasons we use in deciding that a certain alternative is best for us in a particular situation |
| currency | paper money printed,issued,and backed by the government |
| deficit spending | spending by a government of more than it takes in from taxes |
| deflation | a drop in prices that occurs when the demand of goods is less than the supply |
| demand | a desire to own or use a product or a service |
| demand deposits | money deposited in commercial banks that can be takend from the account by writing a check |
| depression | a long period of econmoic decline with low prices,high unemployment,and many business failures |
