Economics
The study of how people seek to satisfy their needs and wants by making choices
Economics
Tonya just got a new job. If Tonya wants her money available right away, without stopping at the bank, she must sign up for ________.
Direct Deposit
Jose bought a candy bar while he was checking out at Walmart. Candy was not on his list of things to buy. The candy is an example of:
Impulse buying
Jeremy pays $600 a month for his health insurance. This fee is called his ____
Premium
When it comes to debt and paying off debt, do you want a high interest rate or a low interest rate?
LOW
the study of how households and businesses make economic decisions
Microeconomics
John should use his ______ account for everyday spending (bills, shopping, etc.) and his _______ account for vacation or college expenses.
checking; saving
While shopping for a new car, Sandy researched all available options before settling on her Jeep. This is an example of ________ shopping.
Comparison
Janice gets into a car accident. The accident costs $15,000 overall, but she only pays $1000. The $1,000 is her ______
Deductible
When you take out a loan, what is the principal?
The amount you borrow
the study of the economy as a whole, including governmental economic decisions
Macroeconomics
$250,000
Provide two examples of goods and two examples of services
goods--things
services--provided for you
ZERO
When you take out a loan, what is the term?
The amount of time it takes to repay the loan
The law of supply states that as price goes up, supply goes _____. The law of demand states that as price goes up, demand goes _______.
up; down
Cassidy, a 15-year-old sophomore, wants to open her first checking account. She will need _______ and ________ to do so.
parent; id; deposit
______ is a type of digital fraud that results in your card numbers being stolen by an attached digital device.
Skimming
How do insurance companies get enough money to pay insured claims?
Risk pooling
To pay the least amount of money, you want a loan with a _____ term and a ______ monthly payment.
short; high
Timmy says to himself, “Timmy! You have so much in this world that you want and need and you’ve got so many awesome goals for yourself. The problem though is your resources are limited. It’s simply not possible to have it all!” Timmy is thinking about…
Scarcity
How long does a bank statement cover?
30 days
Two things that can happen as a result of filing for bankruptcy
Poor credit, clean slate
Premiums and deductibles have an INVERSE relationship--explain the meaning of this phrase
As one goes up, the other goes down
Two things that will happen if you don't make your car payment:
Lower credit score
Car repossessed