Career and Financial Management Vocabulary

Aptitude
a natural talent or ability
Assets
Items of value
Average
Middle- some above and below
Barter
Medium of exchange with goods or services, no money
Blank Endorsement
signature that makes check payable to anyone
Bounced Check
check is written and there’s not enough money in the bank
Boycott
refusal to buy a company’s product
Budget
future spending plan
Career path
upward movement in a job cluster
Chain of Command
order on which authority flows in a business
Collateral
item of value that secures a loan
Collective Bargaining
to negotiate fairly
Consumer
those who purchase a good or service
Corporation
a legal entity separate from it’s owners
Credit
to buy now, pay later
Currency
paper money and coins combined
Demand
the desire and ability to purchase a product
Deposit Slip
Item by item record of the money you put in the bank
Dictionary of Occupational Titles (DOT)
complete single reference guide for jibs and careers
Down Payment
initial amount of money put towards purchasing an item
EEOC
federal agency which enforces fair labor practices in the workplace
Employer
provides jobs
Entry Level
the beginning of a career typically requires a little schooling
Equilibrium Price
supply=demand
FICA
social security tax
Fixed Expense
items that do not change from month to month
Free enterprise system
gov’t has the least amount of control
Fringe Benefits
payments/ values received in addition to salary
Full Endorsement
signature and message that transfers check to third party
Grievance
complaint
Gross Income
income before deductions
Image
how other people view you
Income
amount of money earned
Life Style
person’s manner of living
Lockout
employers preventing workers from entering
Mediator
a 3rd party in a dispute between labor and management
Mental Skills
ability to think through problems
Monopoly
no competition for a business
Mortgage
payment for home-will own eventually
Needs
items needed to survive (food, shelter, clothing)
Net Income
income after deductions
Objective
seeing something as others see it
On the job training
skills developed through actual practice while working
Organizational Skills
ability to put items in order
Organized labor
union of workers brought together to protect the interest of the workers (one common cause)
OSHA
federal agency that enforces safety standards in the workplace
Partnership
two or more owners
Personal profile
written picture that describes you as an individual
Personality
things that make up your behavioral and emotional tendencies
Physical Skills
ability to lift, carry, move objects
Potential
abilities/ skills you can develop for future- become all you can be
Prejudice
discriminating based on age, color, race
Profession
career that requires specialized knowledge and schooling
Profits
financial gain
Punctual
on time
Restrictive Endorsement
places limitation on use of check
Savings
money saved
Seniority
person on higher position than others
Slowdown
working slowly
Social Skills
skills used to communicate
Sole Proprietorship
one person runs business
Strike
refusal to work
Subjective
influenced by personal emotions
Supply
total Amt. of product
Surplus
amt. left over
Transaction
buying or selling something
Unemployment
no work
Variable Expense
expenses that change
W2 Form
sent by employer to IRS, reports wages and taxes
W4 Form
tells employer amt. of tax to withold from employees paycheck