Category 1
Data involving two variables.
Bivariate Data
A score that serves as an estimate of the ability of a person or organization to fulfill their financial commitments, based on previous dealings
Credit Rating
The level of prices involved in everyday items and experiences.
Cost of Living
The amount owed by a borrower to a lender
Debt
A relationship between two random variables
Correlation
Failure to repay a loan.
default
An economic and social system in which private ownership is completely eliminated and society collectively owns the rights to all resources.
Communism
A situation in which allocation and distribution of resources are controlled solely by the government
Command Economy
The act of purchasing assets as an investment.
Buy
An item that has been pledged as security for repayment of a loan and will be forfeited in the event of a default.
collateral
A portion of an investment's value that is owed to a broker as a fee
Commission.
An investment in which an investor loans money to an institution for a defined period of time
Bond
A person or business that owes a sum of money.
Debtor
a person who buys and sells goods or assets for others
Broker
a market in which share prices are rising, encouraging investors to buy
Bull Market
An owned resource or item of monetary value
Asset
A model that explains the flow of goods, services, and money in an economy.
A circular flow model.
An economic forum with 21 members that promotes free trade
Asia-Pacific Economic Cooperation (APEC)
A situation in which the government's expenditures exceed its revenue.
Budget Deficit
A situation in which the government’s revenue exceeds its expenditures.
budget surplus
Gross income that has been reduced to reflect specific deductions; used to determine taxable income
adjusted gross income
the distribution of available resources according to the demands and needs of society
Allocation of Resources
The profit on an investment when the closing value of a share is higher than the opening value.
Capital Gain
Bear Market
A market in which share prices are decreasing, encouraging investors to sell
The amount of money that must be paid before an insurer will pay a claim.
deductible