Glossary Terms:

Incentives Influence Us!

Glossary terms from:
http://www.econedlink.org/e378


Allowance

A sum of money paid regularly to a person, often by a parent to a child; sometimes paid in compensation for services rendered.

Check

A written order to a financial institution directing the financial institution to pay a stated amount of money, as instructed, from the customer's account.

Choice

Decision made or course of action taken when faced with a set of alternatives.

Decision Making

Reaching a conclusion after considering alternatives and their results.

Incentive

Any reward or benefit, such as money, advantage or good feeling, that motivates people to do something.

Interest

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

Money

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.

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.