2.02 Vocabulary
1. Accuplacer/ASSET - Advising, Placement, and Retention System – an assessment-advising program
designed to identify the basic skill levels of students as they enter two-year institutions.
2. Adaptation - the process or state of changing to fit a new environment or different conditions, or the
resulting change
3. Apprenticeship - One bound by legal agreement to work for another for a specific amount of time in
return for instruction in a trade, art, or business
4. Associate's Degree - 2 year college degree from a community college, university, college, or technical
school. The recipient of an Associate's Degree can then transfer the credits toward a 4 year Bachelor’s
Degree.
5. Armed Services Vocational Aptitude Battery (ASVAB) – is a test developed and maintained by the
United States Department of Defense.
6. Bachelor's Degree - 4 year college degree from a university/college earned by completing undergraduate
coursework and are awarded in specific concentrations.
7. Certifications - an official document that gives proof and details of something such as personal status,
educational achievements, ownership, or authenticity
8. Changing Economy - a transformation that occurs within an economy that either increases, sustains, or
depletes its vitality
9. College - postesecondary institution offering a collection of degrees in one specific area; also an
undergraduate division or school in a university.
10. Community College - postsecondary school with up to 2-year programs leading to certificates, diplomas,
or associate degrees.
11. Competency - the quality of being adequately or well qualified in a skill or ability.
12. Correlation - a relationship in which two or more things are mutual or complementary, or one thing is
caused by another
13. Credential - a professional or industry certification proving a person's qualifications, awarded for
occupational competency typically by passing an exam.
14. Career and Technical Education (CTE) - educational programs that specialize in the skilled trades,
applied sciences, modern technologies, and career preparation
15. Depression - extended period of negative economic activity; unemployment, declining income &
production.
16. Doctoral Degree - postgraduate academic degree awarded by universities, highest level of academic
degree. Everyone is familiar with the medical doctor, who holds an M.D. (Medical Doctorate). But you can
earn a doctorate in almost any subject area, Doctor of Philosophy, abbreviated as PhD.
17. Diverse Economy – economy composed of many ethnic, as well as socioeconomic and gender, groups
18. Dual Enrollment - involves students being enrolled in two separate, academically related institutions
19. Economic Cycle - the natural fluctuation of the economy between periods of expansion and contraction.
Factors such as gross domestic product, interest rates, levels of employment and consumer spending help
to determine the current stage of the economic cycle.
20. Economy - the wealth and resources of a country or region, especially in terms of the production and
consumption of goods and services, careful management of available resources.
21. Formal Assessment - standardized written or performance test of knowledge, aptitude, values, etc.
22. Formal Learning - done or carried out in accordance with established or prescribed rules
23. Free Application for Federal Student Aid (FAFSA) - Federal Student Aid, a part of the U.S.
Department of Education, is the largest provider of student financial aid in the nation, provides grants,
loans, and work-study funds for college or career school.
24. Function - an activity or role assigned to somebody or something
25. Global Economy - the interdependent economies of the world's nations, regarded as a single economic
system
26. Graduate Degree - college program leading to a master's degree or doctoral degree; advanced study
generally following a bachelor's degree.
27. Grant - financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and
owe a refund).
28. Independent Learning - a method or learning process where learners have ownership and control of
their learning - they learn by their own actions and direct, regulate, and assess their own learning
29. Inflation - a sharp increase in the costs of goods and services.
30. Informal Learning - not officially prepared, organized, or sanctioned
31. Internship - an assistant or trainee working to gain practical experience in an occupation
32. Job Shadowing- short-term experience that allows the student to follow an experienced worker and see
the day-to-day activities of a particular career.
33. Lifelong Learning – the continuing development of knowledge and skills that people experience after
formal education and throughout their lives
34. Loan - borrowed money you must repay with interest.
35. Local Economy - economic activities of the locale in which you live
36. Master's Degree - an academic degree from a college or university for those who complete at least one
year of prescribed study beyond the bachelor's degree.
37. Military - special skills may be developed through educational programs in the armed services.
38. Motivation - a feeling of enthusiasm, interest, or commitment that makes somebody want to do
something, or something that causes such a feeling
39. National Economy - economic activities belonging to or characteristic of a nation
40. On-the-Job Training - Employee training at the place of work while he or she is doing the actual job.
41. Preliminary Scholastic Aptitude Test (PSAT) - a practice test that measures the critical thinking,
mathematical reasoning, and writing skills that students need to do college-level work.
42. Proprietary School - privately owned school that operates for profit for those seeking vocational training.
43. Prosperity - stage in economic cycle, relatively low unemployment & high total income prevail, leading to
high purchasing power - more spending.
44. Recession - a period of declining economic growth.
45. Recovery - stage in the economic cycle where employment and production begin to rise to normal levels
after a slump.
46. Regional Economy - economic activities belonging to or characteristic of a geographic region
47. Room & Board – cost of housing and food while attending college or career school.
48. Scholarship - Money awarded to students based on academic or other achievements to help pay for
education expenses. Scholarships generally do not have to be repaid.
49. Scholastic Aptitude Test (SAT) - a test that measures the critical thinking mathematical, reasoning, and
writing skills students need to do college-level work.
50. Self-Directed - Directed or guided by oneself, especially as an independent agent
51. State Economy - economic activities belonging to or characteristic of a state
52. Technical School - general term used for two-year college which provide mostly employment-preparation
skills for trained labor, such as welding, culinary arts and office management.
53. Trade School - a vocational school, also called a trade school, is a higher-level learning institution that
specializes in providing students with the vocational education and technical skills they need in order to
perform the tasks of a particular job. Students typically earn a credential or a certificate
54. Transition - a process or period in which something undergoes a change and passes from one state,
stage, form, or activity to another
55. Trends - a direction of movement.
56. Tuition - a sum of money charged for teaching or instruction by a school, college, or university.
57. Undergraduate Program - college program leading to an associate (2-year) or a bachelor's (4-year)
degree; generally following high/secondary school.
58. University - a collection of colleges, has undergraduate programs which award bachelor degrees and
graduate program for masters’ degrees and doctorates.
59. Volunteer - a contribution of free labor, usually to a non-profit organization.
60. Volunteer Experiences - Unpaid experiences; students work to get experience, contacts, or help out.
The experiences are not necessarily career related and not usually supervised by school personnel.
61. Work-Based - the duties or activities that are part of a job or occupation