Final answer:
The terms of speech within a small group reflecting specific interests or career needs, as discussed in the video 'American Tongues,' are referred to as a vernacular or a speech community. These dialects have unique vocabulary and grammar, forming an integral part of their group identity.
Step-by-step explanation:
Based on the video American Tongues, we understand that the terms of speech specific to a relatively small group of people that often reflect their job needs or their common interest/ hobby is known as vernacular or speech community. These groups employ a distinctive vocabulary, grammatical forms, and intonation patterns that underscore their shared identity and experiences within their particular domain. It's important to recognize that these variations, often termed as dialects, are not indicative of laziness or lack of intelligence, but rather are complex and systematic linguistic constructs unique to those groups. Instances such as the Philadelphian pronunciation of 'water' as 'woohder' or the use of 'yooz' exemplify such linguistic uniqueness that defines a speech community.