Glossary Terms:

Jobs: Who Needs 'Em?

Glossary terms from:


A financial institution that provides various products and services to its customers, including checking and savings accounts, loans and currency exchange.


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.


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


An amount that must be paid or spent to buy or obtain something. The effort, loss or sacrifice necessary to achieve or obtain something.


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


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.


Use money now to buy goods and services.


The number of people without jobs who are actively seeking work.


Desires that can be satisfied by consuming or using a good or service. Economists do not differentiate between wants and needs.


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.