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Unit 3 vocab
| Term | Definition |
|---|---|
| Wage | a fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker. |
| Soft skills | Soft skills are personality traits or habits. They are more to do with who people are, rather than what they know. Examples of soft skills include interpersonal skills and communication skills. |
| net pay | Net pay is the amount of pay remaining for issuance to an employee after deductions have been taken from the individual's gross pay. This is the amount paid to each employee on payday. |
| Return on investment | Return on investment (ROI) is a measure of the profitability of an investment. It is expressed as a percentage and can be calculated using a simple ROI or annualized ROI equation. |
| work study program | A work-study program is a part-time job opportunity for high school or college students who need financial aid. It is funded by the federal or state government. |
| salary job | A salary job is a type of employment where the worker is paid a fixed amount of money or compensation by an employer. |
| Benefits | a payment or gift made by an employer, the state, or an insurance company |
| FAFSA | The Free Application for Federal Student Aid (FAFSA) is the form you need to fill out to get any financial aid from the federal government to help pay for college. |
| Subsidized loan | A subsidized loan is a student loan for undergraduate students who demonstrate financial need. This type of loan doesn't accrue interest the same way other loans do because the government temporarily covers interest costs. |
| economic stability | Economic stability is a state where an economy is free from excessive fluctuations in the macroeconomy. It means that the economy has fairly constant output growth and low and stable inflation. |
| career incentives | Incentives are rewards that employers offer their workers to stimulate performance or encourage employee loyalty. They can be tangible materials or intangible rewards with sentimental Value. |
| 529 Account | A 529 plan, or "qualified tuition plan," is an investment account that provides tax benefits when the savings are used for qualified education expenses. |
| Unsubsidized loan | An unsubsidized loan is a federal student loan that is not based on financial need |
| Economic Mobility | Economic mobility is the ability of an individual, family or some other group to improve (or lower) their economic status—usually measured in income. Economic mobility is often measured by movement between income quintiles. |
| Gig Economy | Gig economy refers to an economic activity that involves the use of temporary or freelance workers to perform jobs typically in the service sector. |
| Disposable Income | income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes. |
| Grant | a sum of money given by a government or other organization for a particular purpose |
| Debt Ratio | The term debt ratio refers to a financial ratio that measures the extent of a company’s leverage. The debt ratio is defined as the ratio of total debt to total assets, expressed as a decimal or percentage. |
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