Economics
Consumerism
Insurance
Taxes
Credit
100
Cost of what you give up when you buy a product or service over another product or service.
What is opportunity cost.
100
A measure of inflation by looking at the prices of representative set of goods.
What is the consumer price index?
100
An insurance that provides income protection for your family in case of your premature death and is limited in the length of time it is effective.
What is term life insurance?
100
Sales tax is an example of this type of tax.
What is regressive tax?
100
The Truth in Lending Act requires that this be clearly published by lenders.
What is annual percentage rate (APR)?
200
When the demand for an item is equal to its supply.
What is equilibrium?
200
The second place you should contact if the seller of product you are not satisfied with did not address your complaint to your satisfaction.
Who is the manufacturer?
200
The type of health insurance that requires the selection of a primary care physician and referrals to see specialists.
What is a Health Management Organization (HMO)?
200
Local government primarily depend on this source of revenue to pay for schools.
What is property tax?
200
A type of high interest loan made to home buyers with low credit score.
What is subprime loan?
300
Government makes all production decisions and owns all profit.
What is command economy?
300
A government agency that protects consumers by regulating dishonest business practices like false advertising.
What is Federal Trade Commission?
300
A percentage of the cost of care after deductibles that you are responsible to pay out of pocket.
What is co-insurance?
300
FICA social security tax is 1.45% on income. This is an example of this type of tax.
What is proportional tax?
300
The person who agrees to pay the debt of a borrower defaults.
Who is co-signer?
400
A shortage of supply causes price to ________.
What is increase?
400
Because a product is sold, there is an unwritten guarantee that it is of average quality and performs as designed.
What is implied warranty
400
An insurance that you qualify for when you are 65 years old and on social security.
What is medicare?
400
When a taxpayer claims zero allowances on this form, he would get less take-home pay.
What is a W-4 form?
400
Your credit history gives a lender/banker an idea of how honest you are in repaying your debt.
What is character?
500
When prices go up and the dollar will buy less.
What is inflation?
500
You witness how rudely customers were treated at a neighborhood pet supply store, you should report it to
Who is the Better Business Bureau?
500
Samantha cannot go buy life insurance on Alex's life because she does not have this.
What is insurable interest?
500
Scholarships is considered a taxable income. It needs to be included in this line item on your 1040EZ.
What is salaries and wages?
500
When a person or business cannot pay their debt, they will file this.
What is bankruptcy?
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