Council for Economic Education Glossary

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U

Unemployment
The number of people without jobs who are actively seeking work.

Unemployment Rate
The number of unemployed people, expressed as a percentage of the labor force.

Unintended Consequences
The unexpected and unplanned results of a decision or action.

Unit Pricing
The cost per unit of measurement. A way for consumers to compare the costs of different sizes of the same item.

Unplanned Spending
Impulsive use of money with little or no consideration of alternatives and resulting in unplanned consequences.

Unsecured Debt
Debt without collateral; credit card debt, for example.

Usury Law
A law which establishes a maximum permissible interest rate for a particular type of loan. Loans at rates above the usury ceiling are illegal.

Utility
An abstract measure of the satisfaction consumers derive from consuming goods and services.