Basics
SHOPPING!!
Going into debt...
Major purchases
Making $$$$$
100
Certain things you have to have to survive. (Food,clothing, and shelter)
What are needs?
100
What are the three basic buying principles?
What is gathering info, using advertising wisely, comparison shopping
100
_____ may be used at stores, restaurants, or businesses, but the bill you get every month may be charing you at very high interest.
What is credit card
100
Name two tenant responsibilities
What is paying the rent on time and taking care of the property
100
Define saving.
What is the nonuse of income for a period of time so it can be used later.
200
When people do not have and cannot have enough income, time, and other resources to satisfy their every want.
What is Scarcity?
200
The most deceptive type of advertising (it's illegal)
What is bait and switch?
200
Many people buy durable goods and obtain 1)______ using 2)______
What is 1) mortgages 2) installment debt
200
What is the type of payment method you will probably need to obtain a house?
What is a mortgage
200
Companies and all three levels of government sell bonds to borrow money. What are 2 examples?
What is tax exempt bonds, savings bond, treasury bills, notes and bonds.
300
Name the factors of production. (There are 5)
What is Land, Labor, Capital, Entrepreneurship, and Technology.
300
The first decision of a consumer (Think of when a consumer is looking at an item they then think _____________
What is whether or not to buy an item
300
Name 2 financial institutions that lend consumers funds.
What is commercial banks, savings and loans associations, credit unions, and finance companies etc.
300
Most renters pay a 1)_____ ______ and sign a 2)______.
What is 1) security deposit 2) lease
300
How do stockholders make money?
What is they buy stocks low and sell them high. So they sell them for more then they paid for it.
400
The ablility to produce greater quantities of goods and services in better and faster ways.
What is productivity?
400
Definition of disposable income.
What is the money a person has left after all taxes have been paid.
400
________ tells you the annual cost of credit in percentages.
What is annual percentage rate.
400
Name two trade offs when purchasing a car.
What is small vs. large car, new vs. used, powerful engine vs. less gasoline, etc.
400
_________ must gather the relevant factors of production and decide on the form of business organization that best suits their purposes.
What is Entrepreneurs.
500
Give an example of a contractor's (or builder's) capital.
What is a hammer, etc.
500
Name some examples of finding information to comparison shopping. (what things do you use to find the lowest prices)
What is the internet, advertisements, newspapers etc.
500
What happens after you fill out a credit application
What is a credit bureau will perform a credit check and give you a credit rating
500
Define liability insurance.
What is insurance that pays for bodily injury and property damage.
500
What must you do to form a corporation? (there are three things)
What is 1) register with state government 2) sell stock 3) elect a board of directors
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