Unit 12 Financial and Economic Terms

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Bankruptcy

Back

A legal proceeding involving a person or business that is unable to repay outstanding debts.

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Credit

Back

An amount of money loaned to a person that must be paid back along with additional interest.

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Debt

Back

An amount of money borrowed by one party from another party.

Front

Interest

Back

An additional amount you pay to use borrowed money.

Front

Saving

Back

Setting aside of income for future use.

Front

Budget

Back

A plan for spending.

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Spending

Back

The amount a person purchases.

Front

Expenditure

Back

An amount of money spent, as a whole or on a particular thing.

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Income

Back

The amount of money a person earns during a year.

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Investing

Back

Using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits.