Personal Finance
What type of account allows you to earn interest on your savings and usually has restrictions on the number of withdrawals?
Savings Account
In economics, what term is used to describe the next best alternative that must be forgone when a decision is made?
Opportunity Cost
What form of business ownership has limited liability for its owners and is distinct from its individual members?
Limited Liability Company (LLC)
What term describes the strategy of spreading investments across different asset classes to reduce risk?
Diversification
What financial term refers to the total value of all goods and services produced within a country in a specific period?
Gross Domestic Product (GDP)
What concept refers to the measure of how much an asset could be sold for quickly, without significantly impacting its price?
Liquidity
Who is often regarded as the father of modern economics and wrote "The Wealth of Nations"?
Adam Smith
What term is used to denote the moral standards and conduct expected within the corporate world?
Business Ethics
What investing term is used to describe a sudden and significant drop in the value of a market or asset?
Crash
What financial term refers to the process of bringing goods and services into a country for sale?
Importation
In personal finance, what does the acronym "APR" stand for?
Annual Percentage Rate
What concept refers to the collective skills, knowledge, and expertise possessed by individuals in a workforce, contributing to the overall productivity and value of a company?
Human Capital
What is the term for the legal process of reorganizing a company's debts, often involving a court-approved plan for repayment?
This method is the process of examining a company's financial statements to help decide if a stock is a good investment
Fundamental Analysis
What is the term for the spontaneous purchasing of goods or services without thoughtful consideration?
Impulse Buying
What accounting term describes the money owed by a company to its creditors?
Accounts payable
This term refers to government policies that restrict international trade to help domestic industries?
Protectionism
This Canadian businessman launched Softkey Software Products in 1986 and is famous for his role as a venture capitalist on the show "Shark Tank".
Kevin O'Leary (Mr. Wonderful)
What is the difference between a mutual fund and an ETF (Exchange Traded Fund)?
Mutual funds - traded at the end of the day, mostly actively managed
ETF - traded like a stock, mostly passively managed (tracks an index)
What economic concept describes the condition where resources are limited, but human wants an needs are infinite?
Scarcity
What are the 4 "C"s of credit worthiness
Character
Capital
Capacity
Collateral
What are the 4 factors of production? Describe one.
Land
Labor
Capital
Entrepreneurship
What are the 3 major business types?
Sole Proprietorship
Partnership
Corporation
What metric measures the volatility of a security or portfolio against its benchmark?
Beta
What is the term that describes the growing integration of economies around the world, often driven by both innovation and technology?
Globalization