Income
Taxes
Investments
Effective Purchases
Financial institutions
100
List 3 sources of income
What is employment, saving money, investing, lending and receiving with interest, social programs
100
List 3 different types of taxes
What is Income tax Sales tax Property tax Licencing
100
What are the 2 types of investments
1. Stocks 2.Bonds
100
When making effective purchases what are the 7 factors to consider?
1.Money available 2.Cost 3.Buyer behavior 4.Quality 5.Comparison shopping 6.Service 7.Warranties and Guarantees
100
What are 3 services that a bank offers?
1. Saving accounts 2. Chequing accounts 3. Mortgage loans 3.Investment services 4. Safety deposit boxes 5/ Travelers cheques 6. Credit cards
200
List 3 factors that effect employment income level
What is education, experience, personal performance, unique abilities
200
Which level of government collects income tax
What is federal government
200
Why are bonds issued?
Issued to raise money for products
200
What is buyer behavior referred to?
Different outlooks that people have about their needs and wants
200
What do banks use the money deposited by customers for?
Lending and Investing
300
List 3 ways income is used
What is spending, saving, investing, donations, taxes
300
List 2 tax deductions
What is child care moving expenses extra expenses for living far North
300
How do bonds work?
You lend a sum of money with an agreement to pay it back with interest on a certain day
300
What is a warranty?
It provides after sale service on the product for a specified period of time
300
What is a travelers cheque?
They are a form of international currency
400
What are the 3 factor relating top a business that dictate income level
What is Type of business Success of business Economic condition
400
What is a tax credit
An amount of money that can be deducted from tax payable
400
What are stocks?
Stocks are when an organization sells ownership in the form of shares
400
What is a guarantee
A formal promise that an obligation will be fulfilled or that a product of a specified quality or durability
400
When using a credit card you will not be charged interest if...
You pay the owed amount in full
500
Other than income what are 2 other benefits of a job
What is Skills development Pension Self-fulfillment Health insurance
500
What is the difference between a tax deduction and a tax credit
Tax deductions- are deducted from total income in order top determine taxable income Tax credit- is deducted from tax payable
500
Why are stocks more risky than bonds?
No guarantee that your money will be returned
500
What is a comparison shopping matrix?
A chart used to compare between similar products
500
What is a GIC?
A guaranteed investment certificate
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