Martin Luther King Jr. Day
Glossary terms from:
Resources and goods made and used to produce other goods and services. Examples include buildings, machinery, tools and equipment. In the context of credit transactions, capital is one of the Three Cs of Credit. It is an indicator of how creditworthy a prospective borrower is likely to be as determined by the borrower's current financial assets and net worth.
The study of how people, firms and societies choose to allocate scarce resources with alternative uses.
The health, education, experience, training, skills and values of people. Also known as human resources.
Payments earned by households for selling or renting their productive resources. May include salaries, wages, interest and dividends.
The purchase of capital goods (including machinery, technology or new buildings) that are used to produce goods and services. In personal finance, the amount of money invested in stocks, bonds, mutual funds and other investment instruments.
Anything that is generally accepted as final payment for goods and services; serves as a medium of exchange, a store of value and a standard of value. Characteristics of money are portability, stability in value, uniformity, durability and acceptance.
The wage rate adjusted for inflation; the purchasing power of wages, the volume of goods and services that money wages will buy.
Earnings from an investment, usually expressed as an annual percentage.
The amount of a good or service that producers are willing and able to offer for sale at each possible price during a given period of time. Normally, as the price of a good or service rises (or falls), the quantity supplied of the good or service rises (or falls).
Compulsory payments to governments by households and businesses.
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.