Economy Vocab Part 2

Front

A bank loans money assuming you have good...

Back

credit.

Front

Company incentives like health insurance, retirement plans, and paid vacation are known as

Back

benefits.

Front

Debt is described as

Back

your obligation to pay back a loan.

Front

Parents starting an ice cream truck business in summer is known as

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free enterprise.

Front

Fee for borrowing money or extra funds in accounts, like savings.

Back

Interest

Front

You ask the bank for a loan to buy a car. The bank considers you a...

Back

borrower.

Front

Considerations for business profit planning:

Back

costs.

Front

Asking others for money to start a business, expecting repayment plus extra, refers to:

Back

investors.

Front

Free trade is when countries decrease restrictions on goods coming in.

Back

countries decreasing restrictions on goods coming into their country.

Front

Total value of goods/services determining a country's economy

Back

Gross Domestic Product.