Glossary Junior Achievement

prepaid card

• A card that allows you to spend only the amount you have pre-deposited into an account

• A card that offers unlimited spending without any balance

• A credit card that requires monthly payments

• A debit card linked to a checking account

revenue

• the amount of money earned from sales

• the total expenses incurred by a business

• the profit made after taxes

• the total number of products sold

resume

• a document that lists a person's hobbies and interests

• a written summary of a person’s work and school experience, designed to spark an employer’s interest; a resume also helps an employer hire the best person for the job

• a formal letter of application for a job

• a list of references for a job application

labor

• work produced by human resources

• a type of machinery used in production

• a legal term for employment contracts

• a method of calculating wages

debit card

• a card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services

• a card that allows customers to borrow money from a bank to make purchases

• a card that provides rewards points for every purchase made

• a card that can only be used for online transactions

dictatorship

• a government that keeps all the power with one leader or small group of leaders, through force or threat of force

• a system where citizens elect representatives to make decisions on their behalf

• a form of government where power is divided among various branches

• a political system where the military controls the government

savings account

• an account that usually earns interest and is often used to hold money that is not needed right away

• a type of account that allows unlimited withdrawals and deposits

• an account that is primarily used for daily transactions

• a type of investment account that focuses on stocks and bonds

promissory note

• a promise to repay a loan within a certain time period

• a document that certifies ownership of an asset

• a legal agreement to sell property

• a record of a financial transaction

quality business

• a business that focuses solely on profit

• a business that tries to meet its customers’ and community’s needs through continuous improvement

• a business that avoids competition

• a business that prioritizes employee satisfaction over customer needs

inventory

• goods that a business has in stock to sell

• the process of managing financial records

• the total amount of money a business has

• the list of employees in a company