CH 1.1 Vocab.

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Presentation transcript:

CH 1.1 Vocab

Career A purposeful course of action or purpose in life that generally provides income.

Earned income Money received from work performed; may include salary, wages, tips, professional fees, commissions, etc.

Human capital The health, education, experience, training, skills, and values of people. Also known as human resources.

Human capital investment Investment of time, effort, and resources in education and training – to increase one’s own knowledge, skills, health, etc., or to develop those assets in others.

income Payments earned by households for selling or renting their productive resources. May include salaries, wages, interest and dividends.

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

labor The quantity and quality of human effort available to produce goods and services.

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