Steve3.1
Terms
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- Human Resources
- The physical, intellectual, and creative talents of people.
- Natural Resources
- are gifts of nature. Ex. Water, forests, natural gas
- include all the resources made and used by people to produce and distribute goods and services.
- Capital Resources
- Opportunity cost
- It is the value of what you give up in order to get what you want.
- Scarcity
- When resources are limited and our wants our unlimited.
- Wants
- The desire of something we would like to have
- Learning how to manage your money wisely
- Personal Finance
- A person that has his/her own business
- Entrepreneur
- Money paid to inividuals in exchange for work or use of property
- Human capital
- Total Amount left after all deductions are taken out of the gross pay
- Net pay
- Moeny taken from your paycheck for various reasons
- Deduction
- Money you pay the goverment for services provided byhe federal goverment such as defense, human services, and the monitoring and regulation of trade
- Federal Income tax
- Money you pay the state you live in for roads, safety, and health
- State income tax
- Money you set aside for old-age, survivors, and disability
- Social Security tax
- Money you put away for certain health care insurance
- Medicare tax
- Insurance coveraqge used to pay a salary to those that are unemployed
- State Unemployment Insurance
- Insurance coverage to pay a salary for people that have gotten hurt on a job and can not work
- Wokers compensation insurance
- Insurance coverage that pays a benficiary in the event that and employee dies.
- Life Insurance
- The person that is chosen to receive life insurance money if a loved one dies
- Beneficiary
- Insurance coverage if you are unable to work due to health reasons, disabiliy insurance will cover you expenses.
- Disability Insurance
- Insurance coverage for medical care expenses including hospitalization, physician services, surgery and major mecial expenses
- Medical Insurance
- Insurance coverage for dental care expenses, including preventive diagnostic, basic major, and orthodontic services
- Dental Insurance
- A tax deferred savings plan for retirement
- Retirement Savings Plans
- Use you summations of the Modules to list an define any terms relative to taxes
- Tax terms