Econ 101
Measures the number of people who are willing to buy a particular good or service at a given price.
What is demand
A loan in the form of cash before you receive your paycheck, also known as “cash advances”.
What is a payday loan
The amount you pay the insurance company for coverage, typically paid each month
What is premium
Measures the amount of a specific good or service available for a given price
What is supply
A type of savings vehicle in which you put your money away for a certain amount of time, to allow your principal to earn interest.
What is a certificate of deposit
A type of car insurance that covers any damage caused to another person or their vehicle
What is liability insurance
Negative earnings, or when your earned revenue is less than your total expenses
What is a loss
A small piece of ownership in a company
What is a stock
Money that a person is required to pay for services, after a deductible has been paid
What is coinsurance
When the price of goods or services increases
What is inflation
An interest-earning loan to a company or government for a specific amount of time.
What is a bond
Amount you are personally required to pay before your insurance covers the cost
What is a deductible
The amount of money a business makes within a specific time period, typically a month
What is revenue
Positive earnings, when you have earned more in revenue than you spent on expenses
What is profit
A fixed fee you pay for specific medical services
What is a copay