Glossary Terms:

The Right Job for 'The Tortoise and the Hare'

Glossary terms from:
http://www.econedlink.org/e284


Benefit

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

Job

A piece of work usually done on order at an agreed-upon rate. Also a paid position of regular employment.

Principal

An original amount of money invested or lent.

Specialization

A situation in which people produce a narrower range of goods and services than they consume. Specialization increases productivity; it also requires trade and increases interdependence.

Spend

Use money now to buy goods and services.

Trade

The exchange of goods and services for money or other goods and services.

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.

Workers

People employed to do work, producing goods and services.