Glossary Terms:

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Glossary terms from:
http://www.econedlink.org/e137


Benefit

Monetary or non-monetary gain received because of an action taken or a decision made.

Cost/Benefit Analysis

A process of examining the advantages (benefits) and disadvantages (costs) of each available alternative in arriving at a decision.

Costs

An amount that must be paid or spent to buy or obtain something. The effort, loss or sacrifice necessary to achieve or obtain something.

Economic Growth

An increase in real output as measured by real GDP or per capita real GDP.

Interest

Money paid regularly, at a particular rate, for the use of borrowed money.

Save

To keep money for future use; to divert money from current spending to a savings account or another form of investment.