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Financial Literacy Vocabulary

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Presentation on theme: "Financial Literacy Vocabulary"— Presentation transcript:

1 Financial Literacy Vocabulary
Brice Holmes

2 Prototype An original type, form, or instance serving as a basis or standard for later stages

3 Invention A new device, method, or process developed from study and experimentation

4 Patent A grant made by a government that confers upon the creator of an invention the sole right to make, use, and sell that invention for a set period of time

5 Credit A contractual agreement in which a borrower receives something of value now and agrees to repay the lender

6 Operating Expenses The day-to-day expenses incurred in running a business , such as sales and administration

7 Fixed Cost A cost that does not vary depending on production or sales levels, such as rent , property tax , insurance , or interest expense.

8 Taxes A fee charged (levied) by a government on a product, income , or activity .


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