Benefit

An advantage, help or aid from something. Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, perqs or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries.

Capital

Money and wealth. The means to acquire goods and services, especially in a non-barter system. Already-produced durable goods available for use as a factor of production, such as steam shovels (equipment) and office buildings (structures).

Corporation

A group of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.

Disability

State of being disabled; deprivation or want of ability; absence of competent physical, intellectual, or moral power, means, fitness, and the like.

Economy

Collective focus of the study of money, currency and trade, and the efficient use of resources. The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.

Employment

The work or occupation for which one is used, and often paid.

Goal

A desired result that one works to achieve.

Good

An object produced for market.

Industry

The sector of the economy consisting of large-scale enterprises.

Inflation

A rise in the general level of prices of goods and services in an economy over a period of time. An increase in the general level of prices or in the cost of living. An increase in the quantity of money, leading to a devaluation of existing money.

Insurance

A means of indemnity against a future occurrence of an uncertain event.

The placement or expenditure of capital in expectation of deriving income or profit from its use.

Justice

The ideal of fairness, impartiality, etc., especially with regard to the punishment of wrongdoing.

Liabilities

Probable future sacrifices of economic benefits arising from present obligations to transfer assets or providing services as a result of past transactions or events. An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments. An obligation of an entity arising from past transactions or events, including any type of borrowing.

Management

The act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Administration; the process or practice of managing.

Market

A group of potential customers for one’s product. One of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange.

Minimum Wage

The lowest rate at which an employer can legally pay an employee; usually expressed as pay per hour.

Pension

A gratuity paid regularly as a benefit due to a person in consideration of past services; notably to one retired from service, on account of retirement age, disability or similar cause; especially a regular stipend paid by a government to retired public officers, disabled soldiers; sometimes passed on to the heirs, or even specifically for them, as to the families of soldiers killed in service.

Planning

The act of formulating a course of action, or of drawing up plans.

Price

The price is the amount a customer pays for the product. The quantity of payment or compensation given by one party to another in return for goods or services. The cost required to gain possession of something.

Profits

Collective form of profit.

Resource

Something that one uses to achieve an objective, e.g. raw materials or personnel.

Retirement

Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.

Right

A legal or moral entitlement.

Security

The condition of not being threatened, especially physically, psychologically, emotionally, or financially. proof of ownership of stocks, bonds, or other investment instruments.

Services

That which is produced, then traded, bought or sold, then finally consumed and consists of an action or work.

Social Democracy

A moderate political philosophy or ideology that aims to achieve socialistic goals within capitalist society such as by means of a strong welfare state and regulation of private industry.

Social Security

A system whereby the state either through general or specific taxation provides various benefits to help ensure the well-being of its citizens.

Socialism

A political philosophy based on principles of community decision making, social equality, and the avoidance of economic and social exclusion, with preference to community goals over individual ones. Any of various economic and political philosophies that support social equality, collective decision-making, distribution of income based on contribution and public ownership of productive capital and natural resources, as advocated by socialists. The intermediate phase of social development between capitalism and full communism. This is a strategy whereby the state has control of all key resource-producing industries and manages most aspects of the economy, in contrast to laissez-faire capitalism.

Solidarity

A bond of unity between individuals, united around a common goal or against a common enemy, such as the unifying principle that defines the labor movement. It is the integration—and degree and type of integration—shown by a society or group with people and their neighbors.

Supply Provisions

The amount of some product that producers are willing and able to sell at a given price, all other factors being held constant.

System

A whole composed of relationships among the members. The part of the universe being studied, arbitrarily defined to any size desired.

An amount of money paid to a worker for a specified quantity of work, usually expressed on an hourly basis.