Ch.4 P.F. Vocab Quiz

A permit in order to make it legal to operate your business?

• Business License

• Gig Income

• Gross Income

• Marketing

An organization that was formed to act as an individual in a legal situation in order to remove liability from the individuals involved?

• Competition

• Corporation

• Business

• Employees

Income that is not committed to particular use and can be used flexibly?

• Competition

• committed income

• Disposable income

a person who organizes, operates, and assumes the risk for a business venture?

• Company

• Corporation

• Employee

• Entrepreneur

Activity where people earn income on the side in order to increase their net income

• Gig Economy

• fixed economy

• Workforce displacement

• Sub-contractor

The amount of money earned before taxes have been subtracted?

• Net Income

• Gross Income

• Marketing

• Minimum wage

The lowest legal hourly wage?

• Gross Income

• Maximum wage

• Minimum wage

• Net Income

The amount of money received after taxes?

• Withholding Tax

• Social Security Tax

• Gross Income

• Net Income

A summary of a persons education, experience and skills that are used in order to search for a job?

• Resume

• Sub-contract

• Business License

• Job Experience

A tax deducted from gross income for the purpose of contributing to retirement benefits?

• Medicare Tax

• Social Security Tax

• Withholding Tax