A Few Good Terms

Let’s take a pause to revisit the terms we’ve used thus far. They may be familiar to you, or perhaps not at all. Or, they may be familiar, but used here in a different way. That is often the case with words, and that understanding will help you here.

I’ve got a useful and fun assignment for you: begin an alphabetized list of the terms we are using here. Include their definitions so that you can refer back to them as we move through the next few weeks. Look up the definitions for a more complete description to include.

One way or another, you will be involved with the making, spending and saving of money. Learning these basic terms will not only help you here, but they will help you widen your understanding in your other school classes and external activities – wherever money, business or jobs are discussed, generated or performed. And that is just about everywhere!

Terms to list: consumer confidence, discretionary spending, economic indicators, entrepreneur, entrepreneurship, external environments, internal motivators, job creation, job numbers, non-discretionary spending, small business.

Discussion Topic: Practice using them with your mom or dad. Ask their opinion about what’s discretionary at your house, and which local entrepreneurs they patronize and why. Who do they most admire, and why is that? We’ll add more terms that are useful to know in the lessons ahead!