Lean on Me -- We depend on each other!
Glossary terms from:
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.
People who use goods and services to satisfy their personal needs and not for resale or in the production of other goods and services.
Division of Labor
An arrangement in which workers perform only one step or a few steps in a larger production process (as when working on an assembly line).
Tangible objects that satisfy economic wants.
A situation in which decisions made by one person affect decisions made by other people, or events in one part of the world or sector of the economy affect other parts of the world or other sectors of the economy.
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.
People and firms that use resources to make goods and services.
A process of manufacturing, growing, designing, or otherwise using productive resources to create goods or services used to to satisfy a want.
The amount of output (goods and services) produced per unit of input (productive resources) used.
To keep money for future use; to divert money from current spending to a savings account or another form of investment.
Activities performed by people, firms or government agencies to satisfy economic wants.
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.
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.