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18 Cards in this Set

  • Front
  • Back
Personal Economics
Chapter 10
Personal Economics
Chapter 10
Career
Your line of work
Contact Letter
A letter informing a prospective employer that you are interested in working for their company.
Cover Letter
Similar to a contact letter but is used to inform the prospective employer of your interest and capabilities as they relate to a specific employment opportunity; always accompanied by a resume.
Deduction
An amount subtracted from something especially as an allowance against tax.
DISC Personality Profile
A behavior profile test that yields insights into how you process decisions and what your natural tendencies may be.
Excise Tax
A tax leveled on the purchase of certain non-essential consumer goods such as tobacco, airline tickets, etc.
FICA
Federal Insurance Contributions Act: Government legislations that funds Social Security.
Income Tax
A progressive tax on the financial income of individuals, companies, deceased estates, and certain bankrupt estates paid to the government.
Medicare
Federal government program that pays for certain health care expenses for citizens 65 or older; managed by the Social Security Administration.
Motivation
A feeling of enthusiasm, interest, or commitment that makes somebody want to do something.
Payroll Deduction
Amount subtracted from a paycheck, either by government requirement (mandatory taxes, Social Security, etc.) or at the employee's request (health insurance, retirement plan, etc.).
Sales Tax
A tax levied on the sales of goods and services. It is collected by the retailer and given to the state.
Resume
Personal and work history used for gaining employment.
Stable
The S in the DISC personality profile. This person is amiable, loyal, and doesn't like conflict.
Vocation
What you do for a living that is your "calling".
W - 4
A federal tax form filled out by an employee to indicate the amount that should be withheld from his/her paycheck for taxes.
Withholding
A portion of employee's wages or salary deducted for taxes.