Unit 1 Vocabulary
1)Job market: the total number of vacant jobs open to those seeking employment.
2)Job description: a formal account of an employee's responsibilities.
3)Economy: the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.
4)Supply and Demand: the amount of a commodity, product, or service available and the desire of buyers for it
5)Financial aid: any grant or scholarship, loan, or paid employment offered to help a student meet his/her college expenses.
6)Scholarship: a grant or payment made to support a student's education, awarded on the basis of academic or other achievement.
7)Tuition: a sum of money charged for teaching or instruction by a school, college, or university.
8)Contact: communicate with (someone), typically in order to give or receive specific information.
9)Resume: a brief account of a person’s education, qualifications, and previous experience, typically sent with a job application.
10)References: someone testifying to someone's ability or reliability, used when applying for a new job.
11)Job application: a form or collection of forms that an individual seeking employment must fill out as part of the process of informing an employer of the applicant's availability and desire to be employed
12)Interview: a meeting of people face to face, especially for consultation.
Unit 2
1)Minimum wage- the lowest wage permitted by law
2)Overtime pay- pay received for hours worked in addition to regular hours
3)Commission- a set fee or percentage of a sale paid to an employee instead of or in addition to salary or wages
4)Entrepreneur- a person who takes the risks of being self-employed and owning a business
5)Benefits- forms of pay other than salary or wages
6)Sick leave-paid time away from work due to illness
7)Personal leave- paid time away from work for personal reasons
8)Retirement plan- an account into which employees contribute a portion of their earnings for their retirement; employers may match these contributions
9)Interest- money earned on savings accounts and other funds
10)Use tax- taxes based on the use of goods and services provided by the government
11)Sales tax- taxes levied on consumer purchases of goods and services
12)Property tax- wealth taxes based on the assessed value of owned real estate
Unit 3
- Wants- things people desire for reasons beyond survival and basic comfort
- Needs- things needed for survival, such as food, clothing, shelter, and medical care
- Cash inflows- income from your job, investments, and other sources
- Cash outflows- expenses, or items for which you must spend money
- Assets- money and items of value that you own
- Liabilities- debts that you owe
- Net worth- the difference between your assets and your liabilities
- Budget- a spending and saving plan based on expected income and expenses
- Variable expenses- costs that can go up and down each month
- Fixed expenses- costs that do not change each month
- Charitable giving- the act of donating money or time to a cause in which you believe
- Financial plan- a plan listing personal and financial goals along with steps and a timeline for reaching them
- Financial planner- a professional consultant who provides financial advice for a fee or commission