MoneyU Glossary of Terms


MoneyU Glossary of Terms


Browse the glossary using this index

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E

Economy-global or world

Worldwide system that results from choices of consumers, workers, business owners, manufacturers, and government officials in multiple societies and with increasing trade and cultural exchange.

Electronic Funds Transfer

The Electronic Fund Transfer (EFT) system is a national payment mechanism that moves money between accounts.

Employee benefits

Additional benefits, beyond a paycheck, offered by employers (e.g., health insurance or pension plan).

Entrepreneur

A person who owns and operates her or his own business. A person who creates a business from scratch, based on a need or personal expertise, and puts creativity and ingenuity into action to provide a service or product.

Entrepreneurship

A process that involves seeing an opportunity to provide a product/service, taking initiative to find out about competitors and what customers want from the product/service, and developing plans to market the business, analyze potential profit or losses, and produce the product/service.

Equal Credit Opportunity Act

The Equal Credit Opportunity Act requires that U.S. financial institutions and other creditors make credit equally available to all creditworthy customers without regard to race, color, religion, national origin, sex, marital status or age. For example, a creditor cannot ask you to reapply, close your account or change terms of a loan if you become widowed or divorced. Income from pensions, annuities or part-time employment may not be excluded by a creditor in evaluating a consumer's creditworthiness.

Equity Security

A share in the ownership of a company, usually in the form of common stock. It may also be preferred stock.

Ethical/ethical reasoning

Applying criteria, standards, or principles for judging what to believe or how to act. In financial terms, ethical questions focus on fulfilling obligations, furthering the well-being of others, or resolving dilemmas and conflicts in a particular financial situation.

Executor

The person appointed by the will to manage the estate of the decedent, as compared to the administrator, who is appointed by the court.

Executrix

Feminine form of executor.

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