Glossary

4. A proposal
8. A legally binding agreement
10. Any organisation that produces and sells goods and services in order to make profit
11. The person who writes and signs a cheque
13. A list of income and likely expenditures
17. The extra money you have to pay back when borrowing money
19. Money received on a regular basis from work, property, business, investment or welfare payments
21. Things that are necessary for survival such as water and food

1. What remains after all business expenses are deducted from sales revenue
2. The buying and selling of goods and services between individuals and businesses
3. The financial institution that provides cheque account facilities
5. Thing that are not essential for survival but that we would like to have
6. The swapping of exchanging of one good for another
7. When the offeree agrees to the proposal
9. Things done for you by others
12. Buys good in large quantities from the manufacturer
14. Someone who purchases goods and services to satisfy needs and wants
15. A business that sells products directly to consumers
16. An illegal business practice
18. Items that you can see or touch
20. Any token, with an agreed value, that people accept as payment in exchange for a good or service