Economics Revision 0.0 / 5 ? EconomicsAQA TextbookGCSEAQA Created by: sofiarhodesCreated on: 30-04-14 11:29 Income The total amount of money recieved from a persons wages or salary, interests or allowances. 1 of 7 Borrowing Recieving money from a lender that needs to be repaid in the future. 2 of 7 Savings Putting money aside for later use. 3 of 7 Needs and Wants Needs - Something you require that is essential Wants - Something you desire but is not essential 4 of 7 Leaving school, college or university When a person ceases to be in full-time education and seeks employment 5 of 7 Gaining employment Being offered and accepting a paid job. 6 of 7 Promotion A new higher-paid job that involves greater responsibility and skill 7 of 7
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