Glossary Terms:

The Economics of Voting

Glossary terms from:
http://www.econedlink.org/e139


Benefit

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

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.

Economics

The study of how people, firms and societies choose to allocate scarce resources with alternative uses.

Fraud

Wrongful or criminal deception intended to manipulate a person for the purpose of gain, usually financial.

Goal

Something a person or organization plans to achieve in the future; an aim or desired result.

Resources

The basic kinds of resources used to produce goods and services: land or natural resources, human resources (including labor and entrepreneurship), and capital.

Work

Effort applied to achieve a purpose or result, often for pay; skills and knowledge put to use to get something done; employment at a job or in a position; occupation, profession, business, trade, craft, etc.