Post Test Vocabulary
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| Personal Finance | All the money decisions a person or family makes including earning, budgeting, saving, spending, and planning for the future.
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| Net Worth | The total value of a person’s assets (things owned) minus their liabilities (things owed); may be a positive or negative dollar amount.
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| Liability | Anything you owe; a debt.
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| Budget | A monthly plan for how you are going to save and spend your income.
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| Compound Interest | Interest paid on an investment and on any interest previously earned.
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| Saving versus Investing | Saving is putting money aside, bit by bit. Investing is taking some of your money and trying to make it grow by buying things you think will increase in value, such as stocks or property.
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| Interest | The charge for borrowed money generally defined as a percentage; also, the earned interest on money you save or invest.
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| Take-home Pay | The amount of money a worker receives after taxes and other deductions.
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| Withholding | A portion of an employee’s wages deducted for taxes.
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| Stocks | Investments that represent small pieces of ownership in a company.
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| Premium | The money you pay for your insurance policy.
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| Entrepreneur | Someone who starts and runs his or her own business.
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| Money Market Account | A deposit account that pays interest based on current interest rates in the money markets. They are a great place to park your emergency fund.
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| Stocks | Investments that represent small pieces of ownership in a company. These investments carry the greatest risk.
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| Premium | The money you pay for your insurance policy.
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| Command Economy | An economic system in which the government owns, controls and regulates all aspects of production, trade, and income generated by the most valuable resources.
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| Market Economy | An economic system which is driven by the economic principle of supply and demand.
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| Traditional Economy | An economic system that is based on tradition and most often found in underdeveloped regions.
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| Interdependence | The reliance of one country on the resources, goods, or services of another country.
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| Impulse Purchase | An unplanned purchase, often spurred by emotion or advertising.
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| Marketing | All of the things a company will do to promote their product.
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| Consumer | A person who pays for goods or services.
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| Gross Domestic Product | The monetary value of all goods and services produced in a country in a year.
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| Globalization | The interaction between the various countries of the world.
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| Federal Trade Commission | The main federal agency designed to enforce consumer protection laws.
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