Asset: Any resource owned by an individual or entity that is expected to provide future economic benefits.

Liability: A financial obligation or debt that an individual or organization owes to another party.

Equity: The value of an ownership interest in an asset, calculated as the asset's value minus liabilities.

Budget: A financial plan that outlines expected income and expenditures over a specific period.

Revenue: The total income generated from the sale of goods or services before any expenses are deducted.

Expense: The costs incurred in the process of earning revenue, including operational costs, salaries, and utilities.

Investment: The allocation of resources, usually money, in order to generate income or profit over time.

Interest: The cost of borrowing money, typically expressed as a percentage of the principal amount, or the return earned on an investment.

Inflation: The rate at which the general level of prices for goods and services rises, eroding purchasing power.

Credit: The ability to borrow money or access goods or services with the understanding that payment will be made in the future.

Debit: An entry recording an amount owed, typically in a bank account, indicating a withdrawal or expense.

Net Worth: The difference between total assets and total liabilities, representing an individual's or entity's financial position.

Diversification: The practice of spreading investments across various financial instruments, industries, or other categories to reduce risk.

Liquidity: The ease with which an asset can be converted into cash without affecting its market price.

Market Capitalization: The total market value of a company's outstanding shares of stock, calculated by multiplying the share price by the total number of shares.

Fiscal Policy: Government policies regarding taxation and spending to influence the economy.

Monetary Policy: The process by which a central bank manages the money supply and interest rates to achieve economic objectives.

Gross Domestic Product (GDP): The total monetary value of all finished goods and services produced within a country's borders in a specific time period.

Supply and Demand: Economic model describing the relationship between the quantity of a commodity available and the desire for that commodity.

Opportunity Cost: The loss of potential gain from other alternatives when one alternative is chosen.