Decisions
Benefits that can be quantified are ___________.
stock
This is the program that insures bank and credit union accounts
FDIC
What is the study of economics on a large scale, like a nation or the world?
macroeconomics
The amount paid to continue insurance coverage.
premium
Costs that can not be quantified are _____________.
mutual funds
Moving money from your savings account to your checking account
transfer
anything useful
resource
The amount paid on a claim before the insurance covers their part.
deductible
The cost of what you choose to do and the next best thing are called ______________________.
opportunity costs.
bond
Spending more money that you have is called _________. There is often a fee when this happens.
overdraft
Physical objects that are produced.
goods
The maximum amount an insurance company is willing to pay out.
policy limit
Saving 10% of from all earnings falls under this inner value.
financial value
The collection of your investments is called your ________________.
investment portfolio
POS
As things are priced higher more things are produced.
Law of supply
liability insurance
Buying a toy because your friend has one too is an example of this inner value.
Social value
The likelihood of losing money is called _________.
risk.
The best way to pay for college is a ___________.
scholarship
Buying the off brand option to save money is called __________________.
substitution effect
Cinderella only has liability insurance on her pumpkinmobile. Her deductible is $500. She is found liable for the $20,000 carriage that she ran into. Her limit is $25,000. How much does Cinderella have to pay? How much does her insurance have to pay?
Cinderella calls on her fairy godmother to take care of the whole thing and doesn't have to pay anything.
JK. Cinderella has to pay $500 and the insurance company pays $19,500