Glossary Terms:

Why Work Now?

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.

Capital Resources

Resources made and used to produce and distribute goods and services; examples include tools, machinery and buildings.


People who use goods and services to satisfy their personal needs and not for resale or in the production of other goods and services.


Tangible objects that satisfy economic wants.

Human Resources

The health, education, experience, training, skills and values of people. Also known as human capital.


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.


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


The quantity and quality of human effort available to produce goods and services.


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.

Natural Resources

"Gifts of nature" that can be used to produce goods and services; for example, oceans, air, mineral deposits, virgin forests and actual fields of land. When investments are made to improve fields of land or other natural resources, those resources become, in part, capital resources. Also known as land.


People and firms that use resources to make goods and services.

Productive Resources

Natural resources, human resources, capital resources and entrepreneurship used to make goods and services.


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


Payments for labor resources; unlike wages, not explicitly based on the number of hours worked. See also Wages.


A regular payment, often at monthly or biweekly intervals, made by an employer to an employee, especially in the case of professional or white-collar employees. Salaries are paid for services rendered and are not based on hours worked.


Activities performed by people, firms or government agencies to satisfy economic wants.


Use money now to buy goods and services.


Payments for labor services that are directly tied to time worked, or to the number of units of output produced.


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.


People employed to do work, producing goods and services.