Business and Economics
A person's debt is how much he or she owes to others.
Debt can be in the form of money, products, or services owed to someone else.
If you borrow money, you were taking on new debt.
An asset is something that has value, such as money, property, or even a nice personality.
Assets can be used to pay off debts.
Specialized knowledge or skills are also assets that can be used to get a job or earn money.
Real estate is property, such as land, houses, and buildings.
Buying, selling or renting property is the business of real estate.
Buying and selling real estate is a popular form of investment.
Inventory is a detailed list of items in one's possession.
In business one's inventory is the supply of items that are ready for sale.
If a store runs out of things to sell, it needs to resupply its inventory.
An investment, is the purchase of an asset with the hope that its value will increase.
A good investment will produce income, such as rental income.
If the value of an asset falls, the investment will lose money.
The amount you owe on a loan is a debt.
If you own a house, it is an asset.
To take inventory means to list the items in your possession.
To take inventory means to make a detailed list of the items that you have.
When you sell an asset at a higher price than what you paid for it, you have made a profit.
When you use a credit card, you are taking on debt.
Countries and Continents
China is the second largest country in the world by land area.
A major issue for China is the continuing expansion of its desserts, which have led to dust storm each spring.
Many of the world's most polluted cities are located there.
South Asia is referred to as the Indian subcontinent.
It's called a subcontinent because it is separated from the rest of Asia by mountains and seas.
It is one of the world's poorest regions with about 75% of the poor living in rural areas.
Europe is the western neighbor of Asia.
It is separated from Asia by the Ural mountains, which is extended for 1500 miles and a north-south direction from the arctic ocean.
The Philippines is the only country in Asia with a majority of Christians.
The Philippines is an island nation with over 7000 islands.
It's located in the South China sea.
The country's capital city is Manila.
Asia is the world's largest continent, covering about 30 percent of the Earth's land area.
Several island nations are also part of Asia, including Japan.
The world's tallest mountains are in Asia, including Mt Everest.
The traditional boundary line between them is the Ural mountain range.
Forty percent of the world's poor live here.
