Budget - An estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals., Wages - Money that is paid or received for work or services, as by the hour, day, or week., Salary - A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker., Deficit - The amount by which something, especially a sum of money, is too small., Boycott - Withdraw from commercial or social relations with (a country, organization, or person) as a punishment or protest., Dividends - Anything received as a bonus, reward, or in addition to or beyond what is expected, Scarcity - When the demand for a resource is greater than the supply of that resource, as resources are limited, Bankruptcy - Utter ruin, failure, depletion, or the like., Welfare - Assistance to individuals and families through programs such as health care, food stamps, unemployment compensation, etc…, Barter - An act of trading goods or services between two or more parties without the use of money —or a monetary medium, such as a credit card., Entitlement - A government program in which recipients automatically receive benefits that they're eligible for because they have given money to that program before hand., Default - Occurs when a borrower fails to pay back a debt according to the initial arrangement., Sector - An area of the economy in which businesses share the same or related business activity, product, or service. Sectors represent a large grouping of companies with similar business activities., Speculation - The purchase of an asset with the hope that it will become more valuable in the near future., Surplus - More than what is needed or used; excess., Currency - A system of money in general use in a particular country.,

Economic Basics

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