TO THE CLASSROOM AND BEYOND

Capacity- Capability to perform or produce

Capital- the federal government of the United States

Competition- the act of contending as for profit or a prize

Debt- the state of owing something, especially money

Demand- Request

Income- the financial gain accruing over a given period of time

Minimum wage- the lowest wage that an employer is allowed to pay

Money- the most common medium of exchange

Monopoly- a market in which there are many buyers but only one seller

Poverty- the state of having little or no money and possessions

Price- the amount of money needed to purchase something

Risk- a source of danger

Scarcity- a small and inadequate amount

Supply- Providing

Tariff- a government tax on imports or exports

Trade- the commercial exchange of goods and services

Bankrupt- unable to pay debts

Consumer- a person who buys goods and services

Deposit- an amount of money that is put in a bank account

Economics- the part of something that relates to money

Economy- the process or system by which goods and services are produced. sold, and bought in a country or region

Finance- how money is used and handled

Invest- to use money to earn more money

Needs- A basic requirement for survival

Wants- means of expressing a need

Utility- the capacity to be useful to someone

Market- a location that allows buyers and sellers to exchange economic profits