a plan for how you will use your income, including spending and saving
1 of 14
economy
the state of a country relating to the amount of money that is in the system and the production and consumption of goods and services
2 of 14
debt
money owned to another person or organisation such as a bank
3 of 14
gilts
a high-interest, very secure government bond
4 of 14
mortgage
a large loan buy a house or property
5 of 14
public spending
how the government spends the money it makes (eg through taxes)
6 of 14
recession
a period of economic downturn which means less money moving around the economy; people spend less, wages decrease, unemployment increases, company profits decrease, and so on.
7 of 14
surplus
more income of an organisation or government
8 of 14
revenue
the income of an organisation or government
9 of 14
income
all the money that you receive, including through work, investments and government benefits
10 of 14
defict
more expenditure than income; more money paid out than coming in
11 of 14
fiscal policy
the decisions a government makes about taxes and what to spend public money on.
12 of 14
earning
the money that you make from your job
13 of 14
expenses
the things that you have to spend your income on
14 of 14
Other cards in this set
Card 2
Front
the state of a country relating to the amount of money that is in the system and the production and consumption of goods and services
Back
economy
Card 3
Front
money owned to another person or organisation such as a bank
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