Glossary Terms:

Clipping Coupons

Glossary terms from:
http://www.econedlink.org/e382


Brand

A trade name used to identify a product produced by a particular company, distinguishing it from similar products produced by competitors.

Choice

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

Consumers

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

Economic Incentives

Factors that motivate and influence the behavior of individuals and organizations, including firms and government agencies. Prices, profits and losses are important economic incentives in a market economy.

Incentive

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

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.

Price

The amount of money that people pay when they buy a good or service; the amount they receive when they sell a good or service.

Producers

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

Product

A good or service that can be used to satisfy a want.

Purchases

In a credit arrangement, the total amount spent during the billing cycle.

Save

To keep money for future use; to divert money from current spending to a savings account or another form of investment.

Savings

Money set aside for a future use that is held in easily-accessed accounts, such as savings accounts and certificates of deposit (CDs).

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.