Basic principles
What are 2 examples of how government restricts free enterprise
Zoning regulations, child labor laws, waste disposal
what is a type of investment account that where your money invest with an investment company
Mutual Fund
what are 2 ways to be paid by stock
dividends and capital gains
What are 2 criteria to consider when opening an account
minimum balance, ATM fee, limit on checks, monthly fee
what is a fee for borrowing money
interest
what is required for a nation to achieve economic goals
trade-offs
what is individual shares of a company that are available for purchase
stocks
what is speacialization
doing what you do best
what is an example of equity
when you make a mortgage payment and get closer to owning your home
what are 3 examples of financial institutions
Commercial bank, investment bank, insurance company, brokerage, savings and loans and credit union
what are 2 types of goods
consumptions, capital, government and exports
what is an IRA
Individual Retirement Account
what allows your employer to credit your checking account directly
direct deposit
what 3 things are required to open an checking account
ID, SS and minimum deposit
what is the % of American families that have a credit card
70
What is economic utilities
happiness, pleasure and benefit
What are payments received from the company that they invested in is called?
Dividends
what is economics
its study of how we make choices with limited resources
what is the amount of interest you will pay on your credit card each month
annual percentage rate
what are 3 things that effect your credit score
type of credit, new debt and duration of debt
what is cost/benefit analysis
a process in which you compare what you give up and gain from an action
what are 3 types of savings account
savings, money market and CD
what are 3 goals of free enterprise
equity, stability, growth, security, efficiency, freedom
what are 3 examples of services a bank may offer customers
ATM card, debit card, credit card, loan, overdraft protection, wire transfers
what is net income
money you taker home after taxes