Economics Revision

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Income
The total amount of money recieved from a persons wages or salary, interests or allowances.
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Borrowing
Recieving money from a lender that needs to be repaid in the future.
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Savings
Putting money aside for later use.
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Needs and Wants
Needs - Something you require that is essential Wants - Something you desire but is not essential
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Leaving school, college or university
When a person ceases to be in full-time education and seeks employment
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Gaining employment
Being offered and accepting a paid job.
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Promotion
A new higher-paid job that involves greater responsibility and skill
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Other cards in this set

Card 2

Front

Recieving money from a lender that needs to be repaid in the future.

Back

Borrowing

Card 3

Front

Putting money aside for later use.

Back

Preview of the back of card 3

Card 4

Front

Needs - Something you require that is essential Wants - Something you desire but is not essential

Back

Preview of the back of card 4

Card 5

Front

When a person ceases to be in full-time education and seeks employment

Back

Preview of the back of card 5
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