Basic Vocabulary
1. Goods
2. Services
3. Natural resources
4. Human resources
5. Capital resources
6. Entrepreneurship
7. Microeconomics
8. Macroeconomics
9. Profit
10. Private property
11. Consumer
12. Producers
13. Free enterprise
14. Gross Domestic Product (GDP)
15. Supply and demand
16. Inflation
17. Deflation
18. Demand/ pull
17. Supply/ push
Personal Finance
1. Budget
2. Rent
3. List insurance
4. List utilities
5. Transporation costs
6. Employment costs: dress, meals
7. Retirement - Penson, 401K, 403C
Chain
of Production
1. Resource extraction
2. Manufacture/ assembly
3. Wholesale
4. Retail
5. Regulation, state and federal
(Groups
will design a product and establish how the product will be marketed)
Careers
1. Salary
2. Hourly pay
(Job search, Craig's
List)
3. Commission
4. Ownership income, real estate
and rental
5. Ownership income, LLC
(groups will design corporations for the assessment for this,)
Investment
1. Bonds, government and
corporate
2. Stocks
3. Online trading, money, stock
futures, bond futures
(we will do a role play simulaton for the assessment for this)
Banks
1.
Currency
2. Checks
3. Loans
4. Interest rates
5. Prime interest rates
6. Federal reserve
7. Electronic transfers
