Things you spend money on
Money you get from a job, benefits, or somewhere else
Things you must have and can't do without, such as food
A special savings account to help you save for your child's future education.
A plan for how you will spend your money so that you can best meet your needs.
Another name for "spending plan".
What you think is important in life.
Things that would be nice to have, but that you can live without.
Number of days in a week.
Number of days in a month.
Number of weeks in a year.
The word for exchanging goods and services, sometime between countries
Something that a person would like but is not necessary for their survival.
When money or goods are traded or exchanged for other goods or services
When a company focuses on a small range of products in order to more efficient and their business more profitable.
The person selling the goods or providing the service.
When a person keeps their money instead of spending it.
What people must give up in order to get what they want the most
What a person requires to live - food, water, shelter
A decision that must be made, the object or lesser value is given up and exchanged for something of more value.
The person receiving the goods or services.
How efficient a good or service is produced in order to increase profit.
Something that motivates someone to buy an item.
Value of all final goods and services produced within the borders of a country
Compulsory payments made by individuals and businesses to the government
Goods and services produced in other countries and purchased by local businesses and individuals
Goods and services produced locally and then sold for consumption outside the borders of the country.
A negative economic growth for at least two successive quarters
A document that details expected revenue and projected expenditure
A business owned wholly or partly by the government and run by private authority, e.g ESKOM
An indirect tax on goods and services consumed in the economy
A sustained and significant increase in the general price level over a period of time; leads to a decline in the buying power of money.
An index that measure consumer inflation
An increase in the production of goods and services
People who want to work, are looking for work, but cannot find work
The structure of methods that a society uses to produce and distribute goods and services
The income people receive in return for supplying factors of production
The amount of money a business receives in excess of its expenses
Level of economic prosperity
Any arrangement that allows buyers and sellers to exchange things
An organization that uses resources to produce a product or service, which it then sells
A person or group of people living in a single residence
The arena of exchange in which firms purchase the factors of production from households
A range of economic and political systems based on the belief that wealth should be evenly distributed throughout society
A political system in which the government owns and controls all resources and means of productions and makes all economic decisions
Describing a form of government that limits individual freedoms and requires strict obedience from its citizens
Another name for a centrally planned economy
The doctrine that government generally should not intervene in the marketplace
Property that is owned by individuals or companies, not by the government or the people as a whole
A market-based economic system in which the government is involved to some extent
A period of change in which nation moves from one economic system to another
The incentive that drives individuals and business owners to improve their material well-being
The principle that anyone can compete in the marketplace
The principle that everyone has the same legal rights
The principle that people have the right to control their possessions and use them as they wish
The study of economic behavior and decisions in a nations whole economy
The study of economic behavior and decision-making in small units, such as households or firms
A period of macroeconomic expansion, or growth, followed by one of contraction, or decline
A proposed law submitted directly to the public
Goods or services that we don't really need to live
____ is an example of a need to survive.
To Help keep track of daily spending
Work done by a person to help others
Goods and services people must have to live
We have to make good ____ about what to spend our money on.
Money earned for doing chores
An _____ fancy sports car would be an example of a want
A plan for spending and saving money
To put aside some money for later
Money a person receives for work
The amount of income that is not spent
to get paid for working
a plan that shows income, spending, saving
something people make or grow and then sell
the amount of income a person uses to buy goods and services
the amount of a product that produces want to sell at different prices
a job that one person does for another person
the income a business has left after all its costs are paid
the decision to buy one thing rather than another
all the money a person earns from a job or other places
what you give up when you choose one thing instead of another
selecting a choice
options you have before making decision
a person who buys a good or service from a producer e.g. shop
what you use to pay for goods and services
What you think that you might have
a person or persons who produce a good or service for customers
What you'd like to have but don't really need
money you put in the bank for use at a later time
remedy or set right (repair)
a plan showing where your income will come from and how it will be spent
money that you borrow and haave to pay back
written evidence of a transaction made
money out from a bank or money out in a Cash Book
managing day-to-day money to pay bills, buy food, save
The most expensive way to borrow unless repaid in full at the end of the month.
A pot of money that can be used to cover unexpected spending,loss of income or other unexpected financial problems is called
making plans to meet short- and long-term needs.
the process of managing money(budgeting,saving,investing)
a loan to help people buy houses or flats. They are offered by banks and can last for 30years
the amount a person earns after deductions have been taken by goverment for tax and national income
a target; something that the individual wants or needs to achieve
offered by banks, building societies and some specialist firms. It is paid back with interest over a short time.
the most common form (in the UK) of collective fund, allowing many investors to pool their money together
Money paid to the government for services
Tax paid to the government based on the money you earn
Money added to the cost of items and services when an item is purchased
Tax paid on houses, cars, boats or land
Total amount of income BEFORE taxes are taken out
Amount left on your paycheck AFTER taxes are taken out
An organized plan on spending and saving money
Card issued by a bank that allows the user to purchase goods and services immediately and pay later - charges an interest rate
Card issued by bank that allows user immediate access to money they have in their account
Expenses equal income
Put money into an account
Take money out of an account
A financial plan of expected income and expenses
When your expenses exceed your income
Products, services, or bills you are responsible for
Expected at regular intervals and remains the same amount
Total earnings before any deductions
Money that is earned from work, investments, business, etc.
Purchases a person must have to live or succeed, bills that must be paid to remain in good standing
Total earnings after payroll taxes and other deductions
Fixed amount of money paid to an employee for each pay period
When your income exceeds your expenses and you have money left over
Cost that appears irregularly or that changes in amount
An amount of money paid to an employee at a specific rate per hour worked
Total value of money and other assets, minus any debt, also known as net worth
Financial plan where every dollar of income is allocated somewhere (spent, saved, or invested)