Do I Look Like I'm Made of Money?
Glossary terms from:
Trading a good or service directly for another good or service, without using money or credit.
Any activity or organization that produces or exchanges goods or services for a profit.
Distribution of Income
The way in which the nation's income is divided among families, individuals or other designated groups.
Trading a good or service for another good or service, or for money.
Tangible objects that satisfy economic wants.
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.
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.
"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 natural resources.
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.
A process of manufacturing, growing, designing, or otherwise using productive resources to create goods or services used to to satisfy a want.
The basic kinds of resources used to produce goods and services: land or natural resources, human resources (including labor and entrepreneurship), and capital.
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.
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.